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November 12, 2013 10:00 PM

Check SD Unclaimed Property Fund For Your Name

Sioux Falls, SD

The money's been piling up since the 1980s and some of it could be yours.  The state of South Dakota's unclaimed property fund is now at $230 million.  Finding out if you have a check coming to you is just a few clicks away. 

South Dakota Treasurer Rich Sattgast wants to give you some money.  You could be among the thousands of people who never received a check or deposit back and now the state is waiting for you to claim it.

"It's about one in four people in South Dakota that have property owed to them," Sattgast said.

The average amount of the 300,000 unclaimed funds out there is $50.  If your name is on it, all you need is a government ID and proof of your Social Security number.  The money comes from many sources: old accounts, checks that didn't get delivered, stock dividends and even abandoned safety deposit boxes.

"If you've moved, you may have had an overpayment in your utility payment and they weren't able to find you," Sattgast said. 

Sattgast says just about anybody can be on the list.

"As a matter of fact, if you type in my last name you will find that my father, who passed away three years ago, this last time there was a dividend check that was remitted to the state under his name (for) $30," Sattgast said.

There are five unclaimed properties worth over $100,000.  Now the state won't contact you if you're on the unclaimed property list.  But the website is simple to use and there's even a mobile app you can download to make a claim. 

The state's unclaimed property fund is the largest it’s ever been because of a record $125 million in unclaimed funds from big banks that have consolidated some of their operations here, like Citibank and Wells Fargo.  $2 million to $3 million of that will go out-of-state, but some of it doesn't even have names associated with it and can be used by the state government.

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