When a company can't reach you, it doesn't keep your money forever. After a dormancy period - often one to five years, depending on the state and the type of account - it has to hand the money to the state, which holds it for you indefinitely. That handoff is called escheatment, and the pile is enormous.
What ends up there
Final paychecks from a job you left. Security deposits from an apartment you moved out of. Utility deposits. Refunds from a doctor's office or an insurer. Balances in bank accounts you stopped using. Uncashed checks of every kind. Life insurance payouts where the beneficiary was never found. Stock and dividend payments tied to an old address.
The common thread is a change of address or a change of name. If you've moved, married, divorced, or switched banks, your odds go up.
How to search
Search your state's official unclaimed property site, plus every state you've lived or worked in. The multi-state search at MissingMoney.com is run by state administrators and covers most of them. Searching is free.
Try variations: maiden name, nicknames, misspellings, middle initial or not. Search for deceased relatives whose estates you're entitled to, and for any business you owned.
Never pay a finder up front
You will get letters from firms offering to recover 'your' money for a percentage. You never need one. Claiming from the state is free and the forms are short. Most states also cap what a finder can charge. If someone asks for a fee before you receive anything, walk away.
What the claim looks like
You'll fill out a claim form, then prove two things: that you are you, and that you're connected to the address or account on file. Typically that means a photo ID, your Social Security number, and something linking you to the old address - an old bill, a lease, a tax return.
Processing usually takes a few weeks to a few months. Small amounts sometimes pay out automatically with no documentation at all.
Make it a habit
New property is turned over to the states constantly, so a search that comes up empty today can hit next year. Checking once a year takes about five minutes and costs nothing.