Treasurer Stacy Garrity, Senator Gene Yaw, Representative Jamie Flick, and Representative Joe Hamm Announce First Money Match Checks Sent to Pennsylvanians This Week
For the first time ever, Pennsylvania is returning unclaimed property automatically
Williamsport, PA - Treasurer Stacy Garrity, Senator Gene Yaw (R-23), Representative Jamie Flick (R-83), and Representative Joe Hamm (R-84) announced today that the first Pennsylvania Money Match checks, totaling more than $1.7 million, are now on the way to Pennsylvanians’ mailboxes. Pennsylvania Money Match is a new program that allows Treasury to return certain unclaimed property to rightful owners automatically, which was approved unanimously by the General Assembly and signed by the Governor last year.
“In the coming days, more than 7,000 people will receive Pennsylvania Money Match checks totaling more than $1.7 million – and most of these folks didn’t even realize they had unclaimed property waiting for them. We want to get the word out about this program, and let people know that these checks will be arriving, so everyone knows that this is a real program, this is real money, and it belongs to them!”
Pennsylvania State Treasurer Stacy Garrity
“Pennsylvania Money Match has already made a difference for families and communities across the state. This program makes it easier than ever for individuals to access unclaimed property without the complex hurdles. In my district alone, nearly $10,000 has already been returned to its rightful owners. This is progress that directly benefits Pennsylvanians, and I’m grateful for Treasurer Garrity’s leadership in making it happen."
Senator Gene Yaw (R-23)
“Right now, many Pennsylvanians are in a 'saving-every-penny mode,' and the bipartisan legislation gives people one more opportunity to do that. It's good policy to return something that doesn't belong to you to its rightful owner. Here, Pennsylvania is doing just that. I thank Treasurer Garrity for her leadership in this effort.”
Representative Jamie Flick (R-83)
“I want to thank Treasurer Garrity for her hard work and dedication to returning money back to the people of Pennsylvania, where it belongs. Her diligent implementation of the Pennsylvania Money Match program is exactly what the General Assembly had in mind when we passed the enabling legislation last year. People shouldn’t have to go through unnecessary bureaucracy to get money that is owed to them from the Commonwealth.”
Representative Joe Hamm (R-84)
In January, Pennsylvania Treasury sent due diligence letters to Pennsylvanians indicating that unclaimed property would be automatically returned to them. The first round of the Pennsylvania Money Match program includes 7,380 checks, totaling $1.7 million in returned unclaimed property. Money Match checks will be sent quarterly. The next batch, which will include about 40,000 letters with checks to follow, will go out in May.
Pennsylvania Money Match authorizes Treasury to automatically return single-owner properties valued up to $500 after a thorough identification and verification process. At least 14 other states have successfully implemented similar programs.
Senate Bill 24 to create Pennsylvania Money Match, sponsored by former Sen. John DiSanto, was passed unanimously by both the Senate and House last year as Act 81 of 2024. Similar legislation, House Bill 2092, introduced by Rep. Ryan Bizzarro (D-3), also unanimously passed the House.
“I’m thrilled to get this money back to hardworking Pennsylvanians with Money Match. Thanks to the tremendous support from the General Assembly and the Governor, we were actually able to remove red tape in government, something that’s almost unheard of, by implementing this great program.”
Pennsylvania State Treasurer Stacy Garrity
Pennsylvania Money Match does not apply to claims for properties valued above $500 or those that have multiple owners or other complexities. Those claimants will still need to file a claim and provide any required documentation.
Unclaimed property includes things such as dormant bank accounts, uncashed checks, forgotten stocks, insurance policies, tangible property like the contents of abandoned safe deposit boxes, and more. In most cases, state law requires businesses to report unclaimed property to Treasury after three years of dormancy.
More than one in ten Pennsylvanians is owed some of the $4.5 billion in unclaimed property being safeguarded by Treasury. The average value of a claim is about $1,600.
Since taking office, Treasurer Garrity has returned more than $750 million in unclaimed property and has implemented multiple improvements to the unclaimed property program, all designed to make the process easier and faster, including:
- Completing a total system upgrade for the first time in more than 15 years;
- Implementing a fast-track process for many claims; and
- Allowing direct deposit payments for many claimants.
More information about Pennsylvania Money Match is available at patreasury.gov/MoneyMatch.
