The expansion raises the automatic payment limit in the state’s expedited payment program from $250 to as much as $5,000. State officials said the increase is part of a move to help New Yorkers recover money that belongs to them more quickly, without having to file a formal claim (though filing a claim is still an option).
State Comptroller Thomas DiNapoli said the automatic payment expansion arrives at a time when families are encountering higher costs for everyday staples, such as bills, groceries and gas. The state hopes to return more lost money faster and with less paperwork by increasing the cap.
“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.”
While the unclaimed funds program has been a years-long mainstay of the office, the expedited payment program was launched last year with a $250 cap, with checks given out automatically without individuals having to file a claim. Authored by DiNapoli and sponsored by State Sen. Luis Sepulveda (Bronx) and upstate Assembly Member John McDonald, the legislation was signed into law by the governor in 2024.
“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,” Sepulveda said.
New Yorkers often unknowingly lose money from various sources, including old bank accounts, uncashed checks and insurance refunds. These unclaimed funds are turned over to the state’s comptroller’s office. Through the Expedited Payment Program, the office sends out checks to their rightful owners throughout the state.
Over 210,000 expedited checks have been issued so far, totaling $48 million, with an average payment of $229. DiNapoli now returns on average over $2 million in unclaimed funds each day, his office said.
How to receive your lost money through NYS
Only eligible, verified accounts since January 2025 are automatically returned through the Expedited Payment program. Older claims, estate claims or claims that require additional verification are not returned through this program, so the state encourages New Yorkers to inquire about their lost funds any time: