Illinois Launches Enhanced Money Match Program: Are You Eligible for a Payment?

This summer, Illinois is surprising its citizens with some very good financial news. In contrast to a conventional “stimulus payment,” the state is giving back billions of dollars that are due to its citizens through the State Treasurer’s Office’s creative Enhanced Money Match program.

You can be one of the fortunate people to receive a surprise check if you live in Illinois.

As far as this benefit is concerned, Illinois State Treasurer Michael Frerichs has been very clear: “The money belongs to you, the check is real and it is not a scam.”

One of Illinois’ most effective and long-standing consumer protection programs is the Enhanced Money Match program, which is a component of the state’s I-CASH Unclaimed Property program. Its primary benefit is that it does away with the requirement to submit a claim.

The determination of eligibility is automatic. Utilizing cutting-edge technology, the Treasurer’s Office compares its extensive database of unclaimed property with data previously gathered by other state agencies.

You will be identified if your name and mailing address correspond to an unclaimed fund. You will receive a notification letter and the check soon as the data is verified.

Who is qualified to receive Enhanced Money Match program deposits?

Direct claims involving money owing to a single individual are the main focus of the Enhanced Money Match program. This could involve money from:

• Forgotten bank accounts
• Uncashed checks for reimbursement or salary
• Unpaid benefits from life insurance
• Refund cards that have not been utilized

You are probably eligible if you are a present or previous resident of Illinois and have funds in one of these categories that were somehow overlooked or unclaimed.

What is the maximum amount that each individual can get through the Enhanced Money Match program?

Almost 600,000 people will get $45 million from Treasurer Frerichs’ office this summer, the greatest unclaimed money payout in the history of the country.

More than 870,000 individuals have already received more than $130 million back from the Enhanced Money Match program since it began in 2018.

What occurs in the event that the money is not received?

No matter how long it takes, the Illinois State Treasurer is legally obligated to protect over $5 billion in unclaimed property and deliver it to its rightful owners or heirs.

Stocks and bonds, escrow accounts, and the contents of safe deposit boxes are among the unclaimed property types that are not covered by the Enhanced Money Match program, even though it manages the most straightforward claims.

You can go to the official I-CASH website if you don’t receive a surprise check but think you could have money that hasn’t been claimed.

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