The second round of Pennsylvania Money Match checks, totaling more than $9.2 million, have hit Pennsylvanians’ mailboxes and state officials are encouraging people to cash them.
The Pennsylvania Money Match program allows the state treasury to return certain unclaimed property to rightful owners automatically. This is the second round of checks that have been distributed across the Commonwealth.
“It’s exciting to see so many people getting money they didn’t know they had,” Treasurer Stacy Garrity said. “It’s now important that people cash these checks. We want everyone to know this is a real program and this is real money. Every dollar we return to Pennsylvania families is money they can use to buy groceries, fill up their cars with gas, or pay their rent or mortgage. This money belongs to them, not the state.”
“The Money Match program makes it easier than ever for Pennsylvanians to reclaim what’s rightfully theirs, and I’ll continue to support efforts that reduce financial burdens on our families and neighbors,” added Sen. Frank Farry.
In early May, Treasury sent notification letters to Pennsylvanians indicating that unclaimed property would be automatically returned to them. This second round of Pennsylvania Money Match includes 39,045 checks, totaling $9.2 million in returned unclaimed property. Money Match checks will be sent quarterly. The next batch, which will include about 40,000 letters, will go out in August.
Treasury plans to return $30 million through Pennsylvania Money Match in 2025.
“Pennsylvania is doing right by its workers and taxpayers by automatically returning more than $10 million in unclaimed property back to its rightful owners through the first two rounds of the Money Match program,” said state Rep. Ryan Bizzarro. “Anytime we can cut red tape and return money directly to taxpayers is a reason to celebrate.”
Pennsylvania Money Match authorizes Treasury to automatically return single-owner properties valued at up to $500 after a thorough identification and verification process. At least 14 other states have successfully implemented similar programs.
Pennsylvania Money Match does not apply to claims for properties valued above $500 or those that have multiple owners or other complexities. Those claimants will still need to file a claim and provide any required documentation. Anyone can search online at patreasury.gov/unclaimed-property.
Unclaimed property includes things such as dormant bank accounts, uncashed checks, forgotten stocks, insurance policies, tangible property like the contents of abandoned safe deposit boxes, and more. In most cases, state law requires businesses to report unclaimed property to Treasury after three years of dormancy.
Treasury is working to return more than $5 billion in unclaimed property to its rightful owners. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth more than $1,000.
More information about Pennsylvania Money Match is available at patreasury.gov/MoneyMatch
