What Happens to Unclaimed Money in Massachusetts?

CHICOPEE, Mass. (WWLP) – Millions of people in Massachusetts have unclaimed funds sitting in the state’s bank, the Unclaimed Property Division.

This includes bank accounts, mutual funds, and uncashed checks. Local cities and towns also have plenty of unclaimed money.

“A large city like us we always have uncashed checks,” said Marie LaFlamme, treasurer in Chicopee. “It’s why we do the process once a year.”

LaFlamme told WWLP, they mail letters home to residents that have uncashed checks. They give them two weeks to respond.

“Those that we don’t get a hold of we put it in surplus money,” said LaFlamme. “If they come back in two years and prove that it’s theirs then we will do it… ”

Read the story… | Source: WWLP.com | Date posted: 2/23/2020