Starting in January 2025, Pennsylvania will use a new law to directly return up to $500 of unclaimed money to residents, helping around 70,000 people without requiring them to apply.
New Law in Pennsylvania Simplifies Recovery of Unclaimed Money for Residents
According to The US Sun, starting in January 2025, Pennsylvania will make it easier for residents to get unclaimed money. A new law will allow the state to return up to $500 directly to people without them having to apply. This money might come from things like uncashed checks or old bank accounts. Around 70,000 people are expected to get money from this $4.5 billion fund.
State Treasurer Stacy Garrity said the new system will help people who might not know they have unclaimed money. The state will send letters to confirm people’s addresses, and the first payments should start in February. After that, the state will send out payments every three months.
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4.5 Billion Reasons to Smile: Pennsylvania Residents to Receive $500+ in Unclaimed Money Starting January 2025 (PHOTO: Patch)
Pennsylvania’s New Law to Directly Return Unclaimed Money to Residents Starting January 2025
This change aims to help people get their money back more easily. The state has returned various items in the past, and this new law is designed to make the process simpler for everyone.
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