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Pennsylvania residents could be owed money in unclaimed property, treasurer says

Pennsylvania residents could be owed money in unclaimed property
Pennsylvania residents could be owed money in unclaimed property 02:55

PITTSBURGH (KDKA) — We could all use some extra cash around the holidays.

There is more than $4 billion waiting to be claimed across Pennsylvania, and some of it might already be yours. In southwestern Pennsylvania, there's about $545 million in unclaimed property at the Pennsylvania Treasury. 

"That means that one out of 10 Pennsylvanians have unclaimed property," Treasurer Stacy Garrity said. "And the average claim is around $1,500."

According to Garrity, most of the money comes from bank accounts that have been dormant for three or more years, money that financial institutions are obligated to turn over.

"They could be old bank accounts. They could be uncashed checks, if you had a rebate check," Garrity said.

They could also be things like overpayments and utility security deposits.

With your driver's license handy, the process takes two minutes by following four steps on the treasury's website. If your claim is less than $5,000 and your address matches what the treasury has on file, you might qualify for fast-track.

With that and direct deposit, you could have your money in seven to 10 business days.

"If it's a more complicated claim, that could take several months. But if it's a complicated claim, they could always call our office. We have staff that are very good at helping people get their claim processed," Garrity said.

If you live out of state but your money is tied up in Pennsylvania, you are still eligible. If you want to claim the money for a loved one who passed away, call the treasurer's office for guidance.

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