PA Treasury Announces Second Round of Money Match Checks

Pennsylvania Treasury is returning unclaimed property automatically through Pennsylvania Money Match Program

Treasurer Stacy Garrity, Senator Frank Farry (R-6), Senator Scott Hutchinson (R-21) and Representative Ryan Bizzarro (D-3) announced today that the second round of Pennsylvania Money Match checks, totaling more than $9.2 million, have hit Pennsylvanians’ mailboxes and are encouraging folks to cash them. Pennsylvania Money Match is a 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.

“It’s exciting to see so many people getting money they didn’t know they had,” Treasurer Garrity said. “It’s now important that people cash these checks. We want everyone to know this is a real program and this is real money. Every dollar we return to Pennsylvania families is money they can use to buy groceries, fill up their cars with gas, or pay their rent or mortgage. This money belongs to them, not the state.”

“We sent postcards to more than 700 residents in my district notifying them they had unclaimed property – and I’m thrilled to share that these efforts from the Money Match program have already led to more than $170,000 being returned,” said Sen. Frank Farry. “The Money Match program makes it easier than ever for Pennsylvanians to reclaim what’s rightfully theirs, and I’ll continue to support efforts that reduce financial burdens on our families and neighbors.”

“Pennsylvania is doing right by its workers and taxpayers by automatically returning more than $10 million in unclaimed property back to its rightful owners through the first two rounds of the Money Match program. Anytime we can cut red tape and return money directly to taxpayers is a reason to celebrate,” said state Rep. Ryan Bizzarro. “As a prime sponsor of the Money Match program, I’m working with my House and Senate colleagues to expand this initiative and return even more money to the people of our commonwealth. It’s a commonsense approach to giving back the more than $5 billion in unclaimed property sitting in the PA Treasury.”

In early May, Treasury sent notification letters to Pennsylvanians indicating that unclaimed property would be automatically returned to them. This second round of Pennsylvania Money Match includes 39,045 checks, totaling $9.2 million in returned unclaimed property. Money Match checks will be sent quarterly. The next batch, which will include about 40,000 letters, will go out in August. Treasury plans to return $30 million through Pennsylvania Money Match in 2025.  

Pennsylvania Money Match authorizes Treasury to automatically return single-owner properties valued at up to $500 after a thorough identification and verification process. At least 14 other states have successfully implemented similar programs.

There is movement in both chambers of the General Assembly to legislate an increased threshold for Pennsylvania Money Match, allowing even more unclaimed property to be returned automatically. Legislation includes Senate Bill 844 and House Bill 1189. 

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. Anyone can search online at patreasury.gov/unclaimed-property. 

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.

Treasury is working to return more than $5 billion in unclaimed property to its rightful owners. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth more than $1,000.

Since taking office, Treasurer Garrity has returned more than $900 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.