Alabama is holding up to $1.3 billion in unclaimed cash. How much you could be owed.
FEW MOMENTS. WELL, TONIGHT THE STATE OF ALABAMA IS HOLDING ON TO A MASSIVE POT OF UNCLAIMED CASH MONEY THAT COULD HAVE YOUR NAME ON IT WITHOUT YOUR KNOWLEDGE. BUT IS THE STATE DOING ENOUGH TO GET IT BACK TO YOU? WVTM 13 S JON PAEPCKE JOINS US WITH TONIGHT’S SPECIAL INVESTIGATES REPORT. JOHN, HOW MUCH UNCLAIMED CASH IS THE STATE HOLDING ON TO RIGHT NOW BETWEEN 1.2 AND $1.3 BILLION. GUY. THAT’S ENOUGH TO PAY EACH ALABAMIAN $260 CASH. SOME UNCLAIMED PROPERTY WATCHDOGS BELIEVE STATES LIKE ALABAMA NEED TO WORK HARDER TO HAND OVER. WE’VE GOT ONE, TWO, THREE, FOUR. EXCELLENT. IT WAS AMY TEMPLETON’S LUCKY DAY. IT TURNS OUT ALABAMA OWES THE MCWANE CENTER CEO MONEY. I’VE NEVER GONE ON TO CHECK. I’VE NEVER LOOKED TO SEE IF I HAD ANY IN ALABAMA. TEMPLETON’S TALKING ABOUT ALABAMA’S UNCLAIMED PROPERTY PROGRAM. IT HOLDS CASH FROM BANKS AND OTHER FINANCIAL AGENCIES OWED TO COUNTLESS ALABAMIANS. WE SEARCHED TEMPLETON’S NAME AND SHOWED HER THREE CASH CLAIMS WORTH AT LEAST $350, A FEW HUNDRED DOLLARS WILL. UNEXPECTED DOLLARS WILL BE REALLY WONDERFUL. THIS IS ALABAMA’S UNCLAIMED PROPERTY VAULT IN MONTGOMERY. IT INCLUDES ITEMS LIKE BABE RUTH, AUTOGRAPHED BASEBALLS AND RARE CURRENCY PROPERTY FROM FORFEITED SAFETY DEPOSIT BOXES. BUT ASSISTANT STATE TREASURER CHAD WRIGHT SAYS MOST OF THEIR 12 MILLION PROPERTIES ARE PURE CASH. THIS IS THE COOLEST PROGRAM IN STATE GOVERNMENT BECAUSE WE GET TO GIVE PEOPLE THEIR MONEY BACK. IN FACT, WE ASKED ALL WVTM 13 EMPLOYEES TO SEARCH THEIR NAME IN THE STATE’S DATABASE. OUR NEW METEOROLOGIST, JORDAN WEST, FOUND TWO PAYOUTS HE’S OWED FOR ABOUT $300. I’M EXCITED TO GET ANY FREE MONEY. UM, IT WAS KIND OF A SURPRISE, REALLY. I DIDN’T KNOW THAT. I WAS OWED MONEY. USUALLY, YOU KNOW, YOU OWE MONEY. BUT AS ALABAMA DOING ENOUGH TO GET PEOPLE LIKE WEST THE MONEY THEY’RE OWED, RIGHT NOW, IN ADDITION TO SEARCHING YOUR NAME ON THIS WEBSITE, THE STATE SENDS OUT THIS POSTCARD TO ANYONE WHO HAS OWED MORE THAN $50. FOR LESS THAN THAT, YOU HAVE TO CALL AND ASK THEM TO RUN YOUR NAME. PEOPLE TRUST THAT THE STATE IS DOING THE RIGHT THING, BUT IN FACT THEY’RE NOT. THEY NEED TO KNOW IT. RON LIZZIE LED THE CHARGE TO INCREASE UNCLAIMED PROPERTY PAYOUTS IN HIS HOME STATE OF CONNECTICUT. NOW HE WANTS MORE STATES LIKE ALABAMA TO FOLLOW SUIT. HE BELIEVES BY LIMITING SEARCH PARAMETERS TO 50 BUCKS OR MORE, THOUSANDS OF SMALLER CLAIMS ARE GOING UNPAID. WOULD YOU CONSIDER THAT HIDING SOMEBODY’S PROPERTY OR CASH? ABSOLUTELY. UH, THEY’RE THEY’RE HIDING PEOPLE’S MONEY FOR NO GOOD REASON. THEY’RE SUPPOSED TO RETURN IT. SO WE CAME TO THE ALABAMA CAPITOL TO GET THE STATE’S SIDE OF THE UNCLAIMED PROPERTY DEBATE. SOME WOULD SAY, IF YOU CAN’T SEARCH ALL THE MONEY THAT’S OWED YOU, THAT THE STATE IS IN ESSENCE, HIDING THAT I HAVE NEVER HAD ONE PERSON CALL ME AND SAY, MAN, I WISH YOU WOULD POST SMALLER AMOUNTS. IN FACT, WRIGHT SAID THEIR UNCLAIMED CASH SEARCH BASELINE WAS ONCE ONLY TEN BUCKS. BUT PEOPLE COMPLAINED THAT THE SMALL PAYOUTS WERE NOT WORTH THE TROUBLE. PEOPLE DIDN’T LIKE THAT. WE HEARD FROM THE PUBLIC THAT SAID, WELL, I WENT THROUGH THIS PROCESS. I GOT THIS MONEY AND YOU SENT ME A CHECK FOR $21. AND THEY SAID, WELL, IT WASN’T REALLY I DIDN’T FEEL LIKE IT WAS WORTH IT. WRIGHT TOLD US, IF YOU FILE A CLAIM, THEIR OFFICE WILL SEARCH FOR ANY OUTSTANDING PAYOUTS, NO MATTER HOW SMALL. EVEN IF YOU THINK YOU DON’T HAVE ANYTHING, CHECK YOUR NAME. JUST ASK AMY TEMPLETON. AFTER WE SEARCHED HER NAME, SHE WAS PLEASANTLY SURPRISED BY THE UNCLAIMED CASH HEADING HER WAY. WHAT DO YOU PLAN ON SPENDING THE MONEY ON? WELL, IT DEPENDS ON HOW MUCH. OVER $100 IT IS. BUT SINCE OUR INTERVIEW, TEMPLETON TELLS US SHE RECEIVED $868 FROM THE STATE, WHICH SHE SPENT ON HER SUMMER BEACH VACATION. WELL, I HAVE ONE MORE UNCLAIMED CASH SUCCESS STORY TO TELL YOU DURING MY RESEARCH, I UNCOVERED MY LATE GRANDMOTHER WAS OWED MONEY IN MICHIGAN, AND NOW MY FATHER WILL RECEIVE MORE THAN $4,000. NOW GO TO OUR WEBSITE OR OUR APP RIGHT NOW AND WE’LL SHOW YOU WHERE YOU CAN SEARCH FOR YO
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Alabama is holding up to $1.3 billion in unclaimed cash. How much you could be owed.
It was Amy Templeton's lucky day. It turns out that Alabama owes the McWane Center CEO money.“I've never gone on to check. I've never looked to see if I had any in Alabama,” Templeton said.Templeton's talking about Alabama's Unclaimed Property program. It holds cash from banks and other financial companies owed to countless Alabamians. We searched Templeton's name and showed her three cash claims worth at least $350.“A few hundred dollars, well unexpected dollars will be really wonderful,” Templeton said.>> IMPORTANT ISSUES: WVTM 13 InvestigatesAlabama's Unclaimed Property Vault in Montgomery includes items like Babe Ruth-autographed baseballs, rare currency, and property from forfeited safety deposit boxes.However, Assistant State Treasurer Chad Wright says most of their 12 million properties are pure cash money.“This is the coolest program in state government because we get to give people their money back,” Wright said.In fact, we asked all WVTM 13 employees to search for their names in the state's database.Our new Meteorologist Jordan West found two payouts he's owed worth about $300.To check Alabama's database, click here.“I'm excited to get any free money. It was kind of a surprise, really. I didn't know that I was owed money. Usually, you know, you owe money,” West said.Is Alabama doing enough to get people like West the money they're owed, though?Right now, in addition to searching your name on this website, the state sends out a postcard to anyone who is owed more than $50.For less than that, you have to call and ask them to run your name. “People trust that the state is doing the right thing, but in fact, they're not. They need to know it,” unclaimed property reform advocate Ron Lizzi said.Lizzi led the charge to increase unclaimed property payouts in his home state of Connecticut. Now he wants more states, like Alabama, to follow suit.He believes by limiting search parameters to fifty bucks or more, thousands of smaller claims are going unpaid. “They're hiding people's money for no good reason. They're supposed to return it,” Lizzi said.So, we drove to the Alabama Capitol to get the state's side of the unclaimed property debate. We asked Wright how he would respond to claims like Lizzi’s that if you can't search all the money that's owed you, that the state is essence hiding that amount. “I have never had one person call me and say man, I wish you would post smaller amounts so I would have smaller amounts,” Wright said.In fact, Wright said their unclaimed cash search baseline was once only ten dollars.“But people complained that the minimum payouts were not worth the trouble.People didn't like that. We heard from the public who said, well, I went through this process, and I got this check for $21 and I didn't really think it was worth it,” Wright said.He told us if you file a claim, their office will search for any outstanding payouts, no matter how small. “Even if you think you don't have anything, check your name,” Wright said.Just ask Amy Templeton.After we looked her up, she was pleasantly surprised by the unclaimed cash heading her way. Ultimately, Templeton tells us she received $868 from the state, which she spent on her summer beach vacation.In addition to Alabama's site, there are other databases to search and find out if you are owed money in any other states. To check other state databases, click here.
MONTGOMERY, Ala. —
It was Amy Templeton's lucky day. It turns out that Alabama owes the McWane Center CEO money.
“I've never gone on to check. I've never looked to see if I had any in Alabama,” Templeton said.
Templeton's talking about Alabama's Unclaimed Property program. It holds cash from banks and other financial companies owed to countless Alabamians. We searched Templeton's name and showed her three cash claims worth at least $350.
“A few hundred dollars, well unexpected dollars will be really wonderful,” Templeton said.
>> IMPORTANT ISSUES: WVTM 13 Investigates
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Alabama's Unclaimed Property Vault in Montgomery includes items like Babe Ruth-autographed baseballs, rare currency, and property from forfeited safety deposit boxes.
However, Assistant State Treasurer Chad Wright says most of their 12 million properties are pure cash money.
“This is the coolest program in state government because we get to give people their money back,” Wright said.
In fact, we asked all WVTM 13 employees to search for their names in the state's database.
Our new Meteorologist Jordan West found two payouts he's owed worth about $300.
To check Alabama's database, click here.
“I'm excited to get any free money. It was kind of a surprise, really. I didn't know that I was owed money. Usually, you know, you owe money,” West said.
Is Alabama doing enough to get people like West the money they're owed, though?
Right now, in addition to searching your name on this website, the state sends out a postcard to anyone who is owed more than $50.
For less than that, you have to call and ask them to run your name.
“People trust that the state is doing the right thing, but in fact, they're not. They need to know it,” unclaimed property reform advocate Ron Lizzi said.
Lizzi led the charge to increase unclaimed property payouts in his home state of Connecticut. Now he wants more states, like Alabama, to follow suit.
He believes by limiting search parameters to fifty bucks or more, thousands of smaller claims are going unpaid.
“They're hiding people's money for no good reason. They're supposed to return it,” Lizzi said.
Rossen Reports: Lost money ready to be claimed? Here’s how
So, we drove to the Alabama Capitol to get the state's side of the unclaimed property debate. We asked Wright how he would respond to claims like Lizzi’s that if you can't search all the money that's owed you, that the state is essence hiding that amount.
“I have never had one person call me and say man, I wish you would post smaller amounts so I would have smaller amounts,” Wright said.
In fact, Wright said their unclaimed cash search baseline was once only ten dollars.
“But people complained that the minimum payouts were not worth the trouble.
People didn't like that. We heard from the public who said, well, I went through this process, and I got this check for $21 and I didn't really think it was worth it,” Wright said.
He told us if you file a claim, their office will search for any outstanding payouts, no matter how small.
“Even if you think you don't have anything, check your name,” Wright said.
Just ask Amy Templeton.
After we looked her up, she was pleasantly surprised by the unclaimed cash heading her way. Ultimately, Templeton tells us she received $868 from the state, which she spent on her summer beach vacation.
In addition to Alabama's site, there are other databases to search and find out if you are owed money in any other states.
