Treasurer Clint Zweifel holds $5.2 million from gift cards and certificates in Unclaimed Property
JEFFERSON CITY, MO – November 22, 2010 – (RealEstateRama) — State Treasurer Clint Zweifel (ZWY-ful) is reminding Missourians that heading into Black Friday, those new gift cards and gift certificates may one day become Unclaimed Property. The key is keeping the physical card or certificate. Even if a gift card or certificate expires, any remaining value is required to be turned over to Treasurer Zweifel after five years and can be searched for at www.ShowMeMoney.com. Nearly $60,000 in gift card and certificate credit has been returned to Missourians from Unclaimed Property since January 2010, and more than $5.2 million is waiting for account owners.
“We receive Unclaimed Property constantly, and at this time of year helping Missourians get money back in their pocket is particularly important to me. This is money they can use to buy gifts, pay utilities and fill up the gas tank for holiday travel,” Treasurer Zweifel said. “As you give and receive gifts, be sure to keep track of your gift cards and certificates no matter how long you have had them – if it’s been five years, check www.ShowMeMoney.com to see if your credit has been turned over.”
Individuals who have unused gift cards and certificates with credit should first check with the establishment that the gift card or certificate is from to see if it is redeemable. If the business will not redeem the card or certificate, owners should then check www.ShowMeMoney.com to see if their name is listed. If the owner’s name is not listed and he or she has a gift card or certificate with value a business will not redeem, the holder should call Treasurer Zweifel’s office at (573) 751-0123 and check since not all credit from gift cards and certificates is turned over with account owner contact information.
There is more than $600 million for 3.5 million account owners waiting to be claimed at www.ShowMeMoney.com. Treasurer Zweifel returned a record $35 million in Unclaimed Property to a record 92,000 owners in fiscal year 2010.
Missourians may check for Unclaimed Property 24 hours-a-day at www.ShowMeMoney.com. About 60 percent of claims are eligible for paperless processing and wait times for all claims have been cut in half. Individuals may also sign-up for e-mail notifications and can track a submitted claim from the website.
About Treasurer Zweifel’s Unclaimed Property
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.