If you’ve ever found money under the couch, we’ve got some news for you. There is over $40 billion hiding in America’s proverbial couch. It’s called unclaimed money, and it’s owed to tens of millions of people. The problem is most people don’t know they have money just sitting with the state, waiting to be collected.
We’ve decided to do something about that. Today, we’re excited to announce Credit Karma’s Unclaimed Money feature, an expansion of the company’s acquisition of Claimdog. Devin Finzer and I started Claimdog to help people safeguard their money, so when we had the opportunity to reach Credit Karma’s more than 60 million members, we were thrilled.
With Credit Karma Unclaimed Money, we’ll monitor seven state government databases (CA, GA, NJ, NY, PA, OH, TX) to see if there is money matching your name and current or previous addresses. We’ve already found as much as $75 million in potential matches for 600,000 members in California alone. Unclaimed Money continues our expansion of free monitoring services, including credit report monitoring.
Currently, we’re searching for unclaimed money in seven supported states, and we’ll proactively notify members potentially owed money in any of these states. For all other states, we’ll direct you to the appropriate website to search their records. And we’ll continue to expand our monitoring services to other states over time.
Unclaimed money can be many things, like a check that gets sent to an old address, or money left in an old bank account. It can also include inheritances, insurance payouts, stocks and bonds. If you’re curious, check out our free search tool and search for your name.
And don’t forget to search for your family and friends, or simply share this free resource with them. Low awareness about unclaimed money is the primary reason there’s so much sitting around—as many as one in four Americans have unclaimed money. So, check out the tool, tell folks you know, and sign up for a free Credit Karma account so we have your back in the future.
Manu Lakkur
Senior Product Manager