The Better Business Bureau says many consumers have reported receiving postcards and messages promising unclaimed cash.
ST. PETERSBURG, Fla. — It says it’s free cash you didn’t know you had – but you need to act fast to claim it.
When a 10 Tampa Bay viewer received this “voucher” in the mail that seemed too good to be true, she asked our VERIFY team if she should be suspicious.
Debbie said she received a postcard about an unclaimed reward that can be redeemed with major retailers, such as Walmart and Target. According to the message, the reward is worth up to $100.
She wanted to know if it was legit.
Social media posts circulating since at least 2022 show users warning about similar postcards.
THE QUESTION
Are unclaimed reward vouchers legitimate?
THE SOURCES
- Federal Trade Commission (FTC)
- Better Business Bureau (BBB)
- Experian
- Florida Department of Financial Services
- Florida Chief Financial Officer Jimmy Patronis
- Target
THE ANSWER
No, unclaimed reward vouchers are not legitimate.
WHAT WE FOUND
TheBetter Business Bureau (BBB) says many consumers have reported receiving postcards, emails or social media messages about unclaimed rewards that urge recipients to act fast – which is a red flag.
The notices say it’s a “final notice” and “failure to call will result in an automative forfeiture of this reward.”
Pressure to take immediate action is a common tactic used by scammers to get you do to something before thinking, according to the Federal Trade Commission (FTC).
Recipients are provided with a phone number to call to get their reward which the notice says can be redeemed at major outlets like Target and Walmart. When you call, you are asked for personal information to “confirm your identity.” Debbie told VERIFY she called the number and was asked to provide her date of birth. But when the person on the other end asked for her credit card information, she hung up.
The FTC warns that anyone who pressures you to pay or give them your personal information is a scammer.
Target offers no such voucher, spokesperson Joe Unger confirmed to VERIFY.
Unclaimed rewards or property scams are increasingly common because unclaimed property is real. It’s money and other assets that get turned over to the state when the owner can't be found, according to Experian. Unclaimed property scams take advantage of this process to try to steal your identity or assets.
- Yes, it’s free to search for and claim your unclaimed money
In Florida, one in five people has unclaimed property, according to the state’s Department of Financial Services. The most common types are dormant bank accounts, unclaimed insurance proceeds, uncashed checks, credit balances and tax refunds, according to Florida’s Chief Financial Officer Jimmy Patronis.
The BBB says the safest way to check if you have unclaimed property is to use the official National Association of Unclaimed Property Administrators website.
Florida, like every state, also has its own website,FLTreasureHunt.gov, where you can search for unclaimed property. Each year, millions of dollars are paid out to Floridians.
There is no fee to search for and claim unclaimed property in the U.S. But there are third-party “finders” or “locators” that may offer to help locate and claim a person’s unclaimed property if they pay a fee.
These third-party services are legal, in most cases, but the National Association of Unclaimed Property Administrators says you should be cautious before signing a contract with any third-party organization that contacts you offering to help you claim your unclaimed property to avoid potentially being scammed.
To avoid falling victim to an unclaimed property scam, the BBB shares the following tips on its website:
- Be wary of unsolicited correspondence.If you receive an unsolicited letter, phone call, email or any other kind of correspondence from a stranger, be careful! Most legitimate companies will not contact you this way unless you have previously given them permission to do so.
- Never give your personal information to strangers. Never give anyone you don’t know and trust access to any of your personal information. This includes your full name, phone number and address, your ID numbers, and your banking information.
