New York Now Mailing Out $5,000 Checks To Residents

Thanks to a new law, New York is now sending out checks worth up to $5,000 that you don’t even need to apply for.

New York State Comptroller Thomas P. DiNapoli announced he's fast-tracking a program to instantly send New Yorkers more money in unclaimed funds

Fast-Track Payment Program Returns $48 Million in Unclaimed Funds

After what's described as a successful first year of instantly mailing out unclaimed funds the payment cap is increasing from $250 to $5,000.

“Speeding up the return of lost money is a priority of mine, and my office worked with the State Legislature in 2024 to create a way to fast-track money to people,” DiNapoli said. “After a successful first year, we are increasing the threshold up to $5,000. In these challenging economic times, every little bit helps as the cost of gas, groceries, and everyday essentials rise.”

Unclaimed funds are turned over to the State Comptroller’s office and can include old bank accounts, uncashed checks, insurance refunds, utility deposits, stock certificates, or unused gift cards. Individuals, businesses, nonprofits, religious institutions, schools, or municipalities could have unclaimed funds.

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The new law allows the State Comptroller’s office to mail out checks to eligible New Yorkers, without filing a formal claim. This means you can get a check in the mail, up to $5,000, without filing a claim.

If you qualify.

"Expanding the Expedited Payment Program from the previous $250 cap to a $5,000 maximum is a significant step forward in cutting red tape, strengthening public trust, and ensuring more families can access resources that make a real difference, especially as the cost of living continues to rise across New York State," Senator Luis Sepúlveda, who led the bill, stated.

Over 210,000 expedited checks have been issued so far, totaling $48 million, officials say. DiNapoli's office now returns on average over $2 million in unclaimed funds each day.

Before a check is issued, the State Comptroller’s office will first send out a notification letter to let the person know a check is coming. Then a check will be mailed.

"Recipients are encouraged to open the letter and cash the check promptly. If anyone is unsure about a check received in the mail, they can verify it by entering the Claim ID at: osc.ny.gov/verify. There is never a fee to collect or search for unclaimed funds when claimed through the Comptroller’s office, and the accounts never expire," the Comptroller’s office states.

Not all unclaimed funds qualify for expedited payment, such as estate claims.

CLICK HERE to see if you have any unclaimed funds.