Sunday, July 21, 2024

LA Treasury Unclaimed Property, LA Wallet team up to reunite citizens with lost money

by BIZ Magazine

State Treasurer John M. Schroder has announced a groundbreaking partnership between the Louisiana Treasury Unclaimed Property program and LA Wallet, the state’s leading digital identification platform. The collaboration streamlines the process of reconnecting Louisiana citizens with their unclaimed property. As of today, the LA Wallet app will feature an easy-to-use Unclaimed Property search, enabling users to effortlessly check for unclaimed assets in their name.

“Nowadays people can run their households and sometimes even their businesses from their cell phones. An app-based solution for accessing unclaimed property makes perfect sense,” said Schroder. “It securely harnesses the power of technology in order to simplify the process for citizens, allowing them to reclaim their lost funds with ease.”

The collaboration between LA Treasury and LA Wallet comes after efforts between the two groups to link the two platforms. The Unclaimed Property search feature is now seamlessly integrated into the LA Wallet app, making it convenient for users to discover if they have any unclaimed assets.

Envoc President Calvin Fabre, co-founder of LA Wallet, also shared his thoughts on the initiative, stating, “We are thrilled to be part of this process. Address discrepancies have historically been a major reason why unclaimed property remains uncollected. By incorporating the Unclaimed Property search feature in the LA Wallet app, we can assist in returning money to the rightful owners.”

Unclaimed property includes uncollected funds from payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates, and life insurance proceeds. One in six individuals in Louisiana has unclaimed property, with average claims amounting to $900.

Checking for your unclaimed property is easy through LaCashClaim.org, calling the Treasury’s Unclaimed Property Division at 888-925-4127 (Monday through Friday, 10 a.m. to 3 p.m.), and now by also checking within the LA Wallet app. There is no charge to utilize the LA Wallet app, which is available on both Apple and Google.

About Louisiana Treasury Unclaimed Property Program: The Louisiana Treasury Unclaimed Property program is dedicated to safeguarding funds and reuniting them with their rightful owners. Each year, millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds are turned over to the State Treasurer’s Office. The program strives to educate citizens about unclaimed property and provide accessible means to reclaim their assets.

About LA Wallet: LA Wallet is a leading digital identification platform in Louisiana, providing secure and convenient digital identification services to residents. The app enables users to store their government-issued IDs and driver’s licenses on their smartphones, simplifying identification verification for various transactions and interactions with government agencies and businesses.

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