In a pioneering move by the state government, more than 8,000 Pennsylvanians will soon find checks in their mailboxes as the Pennsylvania Treasury launches its Money Match program. Announced by Treasurer Stacy Garrity, the program aims to proactively return unclaimed property to residents, bypassing the usual requirement for individuals to initiate claims.
As part of the initiative, the Treasury will dispatch the first set of Money Match letters to 8,366 residents this week, notifying them of the automatic return of unclaimed properties valued up to $500. These properties total over $2 million in worth. The recipients can expect to receive their funds via check approximately 45 days after receiving the notification.
This program, which represents a significant reduction in bureaucratic procedures, was established following the unanimous passage of Senate Bill 24 last year and the signing of the bill into law by the Governor in July. “This marks a historic day as we eliminate the red tape traditionally involved in returning unclaimed property,” Garrity stated.
While the first batch of checks will be mailed out soon, the Treasury plans to issue at least three rounds of Money Match checks in 2025. Properties requiring more complicated claims processes, or those valued over $500, will still need to be claimed through the standard procedures.
Pennsylvania’s initiative is modeled after similar successful programs in at least 14 other states. The state currently holds about $4.5 billion in unclaimed property, with the average claim valued at approximately $1,600.
Residents who do not receive a Money Match letter are encouraged to visit the Pennsylvania Treasury’s website to check if they have unclaimed property. For further details, visit patreasury.gov/MoneyMatch.
