Finance
New Yorkers could get $250 checks directly from the state government in January
Some New York residents may soon find their bank accounts heftier by $250 with little to zero effort. Find out if you are among those who’ll get the money.
Some New Yorkers will soon be receiving checks of up to $250, and they don’t have to lift a finger to get it.
A new state law has tweaked New York’s unclaimed funds policy and cut the red tape involved in receiving the money.
Previously, you would have to file a claim on the state’s website to request money from an uncashed check, unclaimed gift cards, or an old bank account. Now you will only need to do that if you are claiming more than $250.
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New York State to send out checks for $250 this month
New York State Comptroller Thomas DiNapoli said for any unclaimed money of $250 or less, his office will do a verification on the right ownership. He said the comptroller’s office will actually send the check instead of merely notifying the person that the money was available. The comptroller says checks will be sent this month.
DiNapoli says New York is holding on to more than $19 billion in unclaimed money, and most of the amount the state is holding is owed to people who have passed away. He says if you are a rightful heir of the deceased- for example, a parent or grandparent- you can claim the money with the proper documentation.
Some of the unclaimed amounts come from money associated with old gift cards that were registered and got lost or stolen.
READ ALSO: Who can qualify for more than $10,000 in tax refunds this year?
How to know if you are owed unclaimed funds in New York State
State officials say the accounts involved in unclaimed funds go back to the 1940s, so it’s worth checking out if you are owed any of it. You can search for lost money on the website of the New York State Comptroller.
You just need to put in your last name and other details that could help narrow down your search.
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