Rhode Island Treasurer Seth Magaziner today announced that checks will be mailed to more than 8,000 Rhode Islanders this week under the his new YOUR MONEY program, which automatically reunites Rhode Islanders with their unclaimed property.
"For hard-working Rhode Island families, a little extra cash can make a big difference," said Treasurer Magaziner. "Through the YOUR MONEY initiative, we are now able to efficiently reunite many Rhode Islanders with missing money that is rightfully theirs."
Treasurer Magaziner's YOUR MONEY initiative matches unclaimed property lists with known addresses, which means that for thousands of people, their missing money can be returned to them automatically – with no paperwork required. In the past, every resident had to check the state's online database to see if they have unclaimed property and then submit a claim form.
"The money we're returning might be from a forgotten bank account, an uncashed paycheck, or a refund that you never received. It's YOUR MONEY and we want to get it back in your pocket, where it belongs," said Treasurer Magaziner. "For some people, the first time they realize they are missing money will be when they open their mailbox and see a YOUR MONEY check in their name."
The launch of the YOUR MONEY program last fall made Rhode Island only the second state in the country with a system to automatically reunite residents with unclaimed property. In 2017 the YOUR MONEY program automatically matched more than 35,000 Rhode Islanders with about $10 million of their missing money. This week's round of checks is the first to go out through the YOUR MONEY program in 2018.
The Treasurer's Office will continue working to return unclaimed property to its rightful owners, as the Your Money automatic return system only covers Rhode Islanders whose current addresses are easily identifiable.
While YOUR MONEY will automatically reunite thousands of people with their missing money, all Rhode Islanders are encouraged to visit findRImoney.com to see if the State is holding unclaimed property that it rightfully theirs.
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