More Than $1 Million In Lost Money Returned Daily To New Yorkers

NEW YORK (CBSNewYork)-- New York State Comptroller Thomas DiNapoli is running a campaign called, "Do We Have Your Money?"

Right now his office is returning a million dollars a day to New Yorkers.

DiNapoli oversees $14 billion held in 33 million unclaimed funds accounts. He and his office are trying to return the money to its rightful owners.

"Very often people don't realize that they've got an old bank account or perhaps a check that wasn't cashed. Or a security deposit from a utility. Typically what happens is that someone has moved," DiNapoli told WCBS 880's Rich Lamb.

Eventually that "unclaimed" money is turned over to the state.

"Most of the accounts, which are small, the recovery is $50 to $100. But it's not unusual for it to be a few hundred or a few thousand," DiNapoli said.

Unclaimed funds come from old bank accounts, utility deposits, uncashed checks, insurance claims, stocks, and other sources. Officials said some accounts hold money that has been lost and forgotten since the 1940s.

"I encourage everyone to come out and search for money that may be waiting for them," DiNapoli said in a press release. "We return more than a million dollars a day to residents across the state, but we want to do more. It's your money, we want to give it back."

One unclaimed account discovered a few years ago was valued at $4 million.

Residents can search for and claim their money by using the online claiming system or by calling 1-800-221-9311.