• Skip to main content
  • Skip to primary sidebar

Ask Liz Weston

Get smart with your money

  • About
  • Liz’s Books
  • Speaking
  • Disclosure
  • Contact

Old check may still have value

February 25, 2013 By Liz Weston

Dear Liz: You recently answered a question from a reader who found an old refund check that couldn’t be cashed. You pointed out that checks typically must be cashed within six months or they’re worthless. But your reader should check the unclaimed-property department of his state. Each state has laws that all companies must follow that typically require them to turn over or “escheat” amounts from uncashed checks, dormant checking accounts, unclaimed utility deposits and other accounts. The consumer should write a letter to the company that issued the check (sent certified mail) with a copy of the front and back of the check to find out whether they escheated the funds. The consumer should also check Unclaimed.org and talk to the state that the company is based in along with his current state. Please encourage him to keep the check and not give up. Unclaimed-property laws are not well known, and they are there to protect the consumer.

Answer: Thanks for your suggestion. Not all companies follow the laws regarding unclaimed property. If this company had, it presumably would have referred this customer to the appropriate unclaimed-property department when he called asking for a replacement check. Still, checking the state treasury departments on Unclaimed.org is relatively easy and certainly worth a try.

Related Posts

  • How to make saving money easier

    Dear Liz: What's the easiest way to save money? I have the hardest time. I…

  • Want to save money on gas? Check out these cards

    Credit card comparison site NerdWallet took a close look at gas cards offered by Gulf,…

  • Thursday's need-to-know money news

    Today's top story: Start thinking bankruptcy now to maximize your options later. Also in the…

  • Wednesday's need-to-know money news

    Today's top story: Don't let your Coronavirus relief check disappear into your debts. Also in…

Filed Under: Q&A, Saving Money, The Basics Tagged With: banking, escheat, unclaimed property

Primary Sidebar

Search

Copyright © 2025 · Ask Liz Weston 2.0 On Genesis Framework · WordPress · Log in