Could South Carolina Owe You Some Financial Assets? How to Find Them in Minutes

Did you know South Carolina is holding on to nearly $1 billion in unclaimed money?

This forgotten cash comes from old insurance policies, uncashed checks, utility deposits, and undelivered refunds.

Related: Finders Keepers? Not Yet! South Carolina’s Unclaimed Money Hits $1 Billion

Some of that money could be yours, and the state is just waiting for you to claim it.

But is South Carolina making it easy for residents to get their money back? Well, not exactly.
 

Why You Might Be Missing Out

In the past 14 years, $370 million has been returned to residents thanks to the unclaimed property program under Treasurer Curtis Loftis.

That’s a lot of cash, but millions more are still waiting to be claimed.

Unlike some states, South Carolina doesn’t automatically send out money—you have to search for it yourself.

To complicate things, the state’s website doesn’t show unclaimed property worth less than $50. So if you’re owed small amounts, you won’t find them unless you contact the Treasurer’s Office directly.

Many residents could have unclaimed assets totaling under $50 without knowing!
 

How Does the $50 Rule Affect You?

Under South Carolina’s Unclaimed Property Law, the state only reports unclaimed assets of $50 or more on its website.

But if you call or start a claim online, the system will automatically search for any unclaimed property in your name, including amounts under $50.

You can visit the state’s unclaimed property search tool here: South Carolina Unclaimed Property Search.

If you suspect you’re owed money under $50, it’s best to call the Treasurer’s Office at 803-734-2101 for a complete check.

Unfortunately, the state hasn’t disclosed how much money is hidden in smaller amounts, but other states give us a clue.

For example, Michigan has more than 17.6 million unclaimed sets of assets under $50, worth nearly $190 million in total, according to a report by Bridge Michigan.

If the same applies in South Carolina, that could mean up to $100 million is sitting unclaimed, waiting for rightful owners.
 

Why Don’t They Just Send You the Money?

Why not return this money automatically? The South Carolina Treasurer’s Office says it needs to ensure the funds go to the rightful owner.

This means each claim is carefully reviewed before any money is released, which takes time.

In contrast, states like North Carolina, Illinois, and Wisconsin have systems that automatically return unclaimed property to residents, no searching required.

North Carolina’s NCCashMatch program returns unclaimed funds up to $5,000 and has already returned about $100 million to residents without making them lift a finger.

North Carolina Treasurer Dale Folwell says the system was built slowly to ensure accuracy, but it’s now running smoothly, delivering money back to residents without any hassle.

Illinois has a similar program called Enhanced Money Match, which has returned $300 million in unclaimed property in the past year alone.
 

The Future of Unclaimed Money in South Carolina

Setting up an automatic system like North Carolina’s isn’t easy. It often requires changes to state laws and new technology to share data between government agencies securely.

Illinois had to pass new legislation in 2017 and 2022 to use tax records, voter rolls, and even driver's licenses to help identify unclaimed property owners.

If done right, the result can be a seamless experience for residents. In Illinois, for instance, residents receive a letter in the mail when they have unclaimed property.

Once they respond and verify their identity, the money is sent directly to them. You can read more about Illinois' program here: ICash Illinois.
 

How to Check for Unclaimed Money Today

Curious if you have unclaimed funds in South Carolina? Visit the state’s unclaimed property search tool: South Carolina Unclaimed Property Search.

For any assets under $50, don’t forget to call the Treasurer’s Office at 803-734-2101.

If you’ve lived in other states, it’s worth checking their databases too.

You can search for unclaimed money nationwide using the National Association of Unclaimed Property Administrators (NAUPA) website here: Unclaimed.org.

Don’t let your money sit in the state’s coffers—check today and see if South Carolina owes you!

Previous article: Find Your Unclaimed Property in Illinois – I-Cash Program Event
 

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