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Claiming Unclaimed Money

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Claiming Unclaimed Money

I received a letter from the State Controllers office stating that I had unclaimed money at Paypal and I have attempted to retrieve it but cannot reach anyone to help..Can someone help please?

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Esteemed Advisor

Re: Claiming Unclaimed Money

@reverenddoc 

 

Dormant accounts

If you do not log in to your PayPal account for two or more years, PayPal may close your PayPal account and send any funds in the PayPal account, including any balance in a linked Cash Account to your primary address (if we have verified the required identifying information that you have provided to us) or, if required, escheat (send) those funds to your state of residency. PayPal will determine your state of residency based on the state listed in the primary address for your PayPal account. If your address is unknown or registered in a foreign country, the funds in your PayPal account, including any balance in a linked Cash Account will be escheated to the State of Delaware. Where required, PayPal will send you a notice prior to escheating any funds in your PayPal account, including any balance in a linked Cash Account. If you fail to respond to this notice, the funds in your PayPal account, including any balance in a linked Cash Account will be escheated to the applicable state. If you would like to claim any escheated funds from the applicable state, please contact the applicable state’s unclaimed property administrator.

 

https://www.paypal.com/us/webapps/mpp/ua/useragreement-full?locale.x=en_US#miscellaneous


Kudos & Solved are greatly appreciated. 🙂

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3 REPLIES 3
Esteemed Advisor

Re: Claiming Unclaimed Money

@reverenddoc 

 

Dormant accounts

If you do not log in to your PayPal account for two or more years, PayPal may close your PayPal account and send any funds in the PayPal account, including any balance in a linked Cash Account to your primary address (if we have verified the required identifying information that you have provided to us) or, if required, escheat (send) those funds to your state of residency. PayPal will determine your state of residency based on the state listed in the primary address for your PayPal account. If your address is unknown or registered in a foreign country, the funds in your PayPal account, including any balance in a linked Cash Account will be escheated to the State of Delaware. Where required, PayPal will send you a notice prior to escheating any funds in your PayPal account, including any balance in a linked Cash Account. If you fail to respond to this notice, the funds in your PayPal account, including any balance in a linked Cash Account will be escheated to the applicable state. If you would like to claim any escheated funds from the applicable state, please contact the applicable state’s unclaimed property administrator.

 

https://www.paypal.com/us/webapps/mpp/ua/useragreement-full?locale.x=en_US#miscellaneous


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

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Contributor

Re: Claiming Unclaimed Money

I do not have a dormant account and have had my account for sometime..I have emailed and also sent copies of the letter to validate my claim but no reply or success in reaching anyone that can help me..I really need that money right now....
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Esteemed Advisor

Re: Claiming Unclaimed Money


@reverenddoc wrote:
I do not have a dormant account and have had my account for sometime..I have emailed and also sent copies of the letter to validate my claim but no reply or success in reaching anyone that can help me..I really need that money right now....

Ok, but no matter what your funds was "escheated" for, it was escheated so if your state government says you have unclaimed property from PayPal and PayPal didn't email you about it to claim it previously, then they (PayPal) have already forwarded the funds to the state government so you have to claim/collect it from the state.

 

Hence why I highlighted, "If you would like to claim any escheated funds from the applicable state, please contact the applicable state’s unclaimed property administrator."


Kudos & Solved are greatly appreciated. 🙂