Unclaimed Money in Oklahoma—The Sooner You Find Your Money, the Better
Learning that you have some money in your name is great, whether you forgot about it or had no idea it was yours. It’s like finding a $5 bill in your old jeans, but better!
What Exactly Is Unclaimed Money?
The term unclaimed money refers to the funds uncollected by their rightful owner and therefore turned over to the government after a certain period.
Oklahoma has approximately $585 million in unclaimed property and pays more than a thousand property claims every month.
Although the average claim is less than $1,000, there have been cases where people recovered more than $10,000. It is a crucial piece of information to consider if you believe there is some unclaimed money with your name on it.
How Do People Lose Track of Their Money?
People stress about money constantly, so how come it sits around unclaimed?
It is not as bizarre as it seems. Property is considered unclaimed when there is a lack of activity on the owner’s side, and the state of Oklahoma cannot find and contact the property owner.
Some of the reasons why money goes missing include:
- A bank closes, and customers don’t know who to contact to retrieve their funds
- A person moves away without informing their tax attorney or the financial institutions that hold their assets
- An insurance company closes down without leaving proper instructions and documents regarding the remaining funds
- People leave their jobs without collecting the final paycheck
- Someone forgets about their safety deposit box
Different Types of Unclaimed Property in Oklahoma
Unclaimed property in Oklahoma is handled by the Unclaimed Property Section of the Oklahoma State Treasurer.
This information is important because:
- You might be a business owner, and you should know where to turn unclaimed property if you have any, for example, if an ex-employee fails to collect the last paycheck
- If you have voluntarily or unwillingly abandoned any property and would like to look for it
Unclaimed property includes various assets:
- Gift cards
- Utility deposits
- Travelers’ checks
- Savings accounts
- Uncashed checks
- Checking accounts
- Uncollected paychecks
- Insurance policies
Oklahoma property is usually presumed abandoned if the owner fails to collect it for more than five years. This dormancy period can differ from one type of property to another, and you can see how in the following table:
|Type of Unclaimed Property||Dormancy Period|
|Unredeemed gift certificates||5 years|
|Non-bank money orders||7 years|
Once the dormancy period ends, the abandoned property is turned to the state, making it more difficult to claim.
Tracking Unclaimed Money in Oklahoma on Your Own
Conducting an unclaimed property search can be a difficult task if you’re only getting familiar with the process. The good thing is that the Oklahoma State Treasurer runs the unclaimed property program known as the OK Treasure.
The table below shows how to contact them and get all the information you need:
|In Person/Via Letter||2300 N Lincoln Blvd, Room 217, Oklahoma City|
The process of finding and claiming your missing money is explained in this step-by-step guide:
- Open OK Treasure website
- Click the Enter Here button in the upper right corner of the main page
- Provide your personal information starting with your last name and add more until you get the search results (this can include your first and middle name, city, zip code, and more)
- Fill out the form to claim the property as yours
- Provide all the mandatory documentation
- Confirm your info to start the claiming process
Search for Unclaimed Money in Oklahoma With DoNotPay
DoNotPay made the process of finding unclaimed money much simpler. The Missing Money feature helps you find the money that belongs to you, whether you lost it due to administration errors or inherited it from a relative.
It is the fastest and most effective method for finding unclaimed property, and it doesn’t require additional paperwork or your Social Security number.
Follow these instructions, and retrieve your funds in the blink of an eye:
- Access DoNotPay from a
- Open the Missing Money feature
- Type your full name and previous addresses in the required field
The next step is searching various federal and state databases, but there is no need to worry—the search is completely automatic, and we will do the rest of the grunt work.
If there is any unclaimed property in your name, you can use the Claim My Property feature to initiate the claiming process.
A Guide for Steering Clear of Unclaimed Property Scammers
Every money-related issue is guaranteed to attract all kinds of con men. The unclaimed property is a great opportunity for this, so don’t be surprised if you get targeted for some kind of unclaimed funds scam. The most common types include identity theft and phone call frauds.
To avoid scammers, keep in mind the following:
- If someone claims you have abandoned funds in your name, check with OK Treasurer or DoNotPay, before taking further steps
- Do not make phone calls to an unknown number
- Never give out your personal information to unknown persons, especially your Social Security number and home address
- Remember that if it seems too good to be true, it probably is
Is There Something Else You Need Help With? DoNotPay Offers Other Handy Services!
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Use our algorithm to obtain assets from old bank accounts or find your pension money. Check out the unclaimed money reviews or get information about how long it takes to get unclaimed money once you file a claim.
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