West Virginia Unclaimed Property and Funds

What Is Unclaimed Property in West Virginia?

Unclaimed Property is money owed to people and companies that gets turned over to West Virginia when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to West Virginia as Unclaimed Property. West Virginia would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.

Here's the important thing - you could have free money waiting for you!

How Much Unclaimed Property Is West Virginia Holding?

Total Unclaimed Funds

Three Hundred Million Dollars

WSAV News, April 2022

State Population

1,792,147

according to the 2020 census

Average Claim Size

$835 to $1,670

per claim, if 1 in 5 to 1 in 10 residents have unclaimed assets

Claims Per Year

Fifteen Million dollars

According this recent article

According to this April 2022 WSAV News article, the State of West Virginia is holding over Three Hundred Million Dollars in unclaimed funds.

Over One Million people live in West Virginia, so that means West Virginia is holding over $167 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make West Virginia's average claim between $835 and $1,670.

How Much Money Does West Virginia Give Out Each Year?

In just 2021, West Virginia returned an astounding Fifteen Million dollars to people with unclaimed money and property.

What Are Some Common Examples of Unclaimed Property?

Some common examples of unclaimed propert include:.

  • Checking or savings accounts
  • Stocks
  • Uncashed dividends or payroll checks
  • Refunds
  • Utility security deposits
  • Contents of safe deposit boxes
  • Customer overpayments

Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For exampe, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.

How Do I Claim West Virginia Unclaimed Property?

You can search for and and claim unclaimed assets on the West Virginia's official webste.

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