Unclaimed Property Scams: Red Flags and How to Stay Safe
Scammers exploit unclaimed-property programs to steal money and identities. Here's how to tell a legitimate finder service from a fraud.
Updated
How legitimate unclaimed-property works
States never charge you to search their databases. They never charge a "release fee" or "processing fee" to pay you your own money. Any outreach claiming you must pay to receive unclaimed funds is a scam.
Licensed finder services (like HeirClaim) charge either a flat fee for document preparation or a percentage capped by state law (usually 10%) and are paid only after the state pays you.
Red flags
1) Demands an upfront wire transfer or prepaid gift card to "release funds." 2) Asks for your Social Security number over email. 3) Uses urgency ("claim in 48 hours or you forfeit"). 4) Has a generic domain or Gmail address. 5) Promises a specific amount before you've provided any identifying information. 6) Asks you to sign over power of attorney before you've verified the company's license.
How to verify a company
Check the state licensing board for your state — most require finder services to register. Verify on the state attorney general's website. Look for a physical business address and a working customer-service phone line. Check reviews on BBB, Trustpilot, and Google.
HeirClaim is a registered finder service where required and only collects fees after the state pays the customer. Our fee cap matches each state's legal maximum.
Frequently asked questions
I got a letter saying I have unclaimed money. Is it real?
Maybe. Verify by going directly to your state's unclaimed-property website (ending in .gov) and searching your name. If you find a match, you can claim directly for free, or hire a licensed service if the process feels overwhelming.
Can I be charged for unclaimed property searches?
Searching is always free. Only actual claim preparation and filing may cost money, and state law typically caps those fees at 10% of the recovered amount.
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Check your state's database
Every state runs a free unclaimed-property database. Start with the state where you (or your relative) last lived.