Some South Carolinians may soon receive a pleasant surprise in the mail—a check they didn’t know they were owed. Thanks to a new initiative from State Treasurer Curtis Loftis, the Palmetto Payback program is matching qualified unclaimed property with its rightful owners and sending out checks automatically, with no need to file a claim.
The first round of payments, totaling more than $600,000, is being mailed out this week.
“We’ve had great success with traditional claim methods, but Palmetto Payback takes it a step further,” said Treasurer Loftis. “We’re making it easier and more efficient to return money to South Carolinians.”
This new system is part of a broader effort to return millions of dollars in unclaimed property held by the state. These funds come from sources like old bank accounts, uncashed checks, insurance payouts, utility deposits, and more.
While the new initiative will help thousands, not every claim qualifies for automatic payment. Treasurer Loftis encourages everyone to check the state’s online database at treasurer.sc.gov to see if more unclaimed funds are waiting.
Currently, one in seven South Carolinians has unclaimed property, with an average value of over $500.
“We’re here to serve the people of South Carolina,” Loftis added. “Whether it’s $5 or $500, this is your money—and we want to return it to you.”