Total Funds Unclaimed: |
$6.7 billion |
Total Number of Accounts: |
More than 23 million account records |
Cash Received (4/03-3/04): |
$559 million ¾ average of 20% funds are claimed
by rightful owners annually |
Funds Paid (4/03-3/04): |
Approximately $150 million paid (more than double
previous year); more than 160,000 accounts processed
|
Source of Funds (4/03-3/04): |
Banks: 41%
Corporations: 12%
Brokers/Dealers: 10%
Insurance Co.: 8%
State Court Funds: 3%
Other: 26%
|
Largest Personal Account Paid: |
Estate paid $1.2 million to heirs in New York
State in 2001 |
Largest Amount Still Unclaimed: |
$700,000, for one individual, from various accounts
|
Interest: |
Paid the first five years on interest-bearing
accounts such as savings and CD accounts. Current
interest rate is 2% |
Claim Fee: |
No fee to reclaim funds. Private companies are
allowed to charge claimants up to a 15% finder’s
fee. |
Claim Requirements: |
Varies based on type of account. A signature,
social security number, and proof of connection
with both the account and the address of record
are generally required. |
Web Site: |
www.osc.state.ny.us
62% of all claims are from Web site; more than four
million searches conducted annually. |
Communication Center: |
1-800-221-9311 or (518) 270-2200 (Outside of
NY State)
Monday to Friday, 7 a.m. to 5 p.m.
100,000 calls handled by call agents annually
|