"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."
"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."
"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."
New York's expedited unclaimed funds program has been expanded, increasing the automatic payment limit from $250 to $5,000. This change aims to help residents recover their money more quickly without needing to file formal claims. State Comptroller Thomas DiNapoli emphasized the importance of this expansion during challenging economic times, as families face rising costs for essentials. The program, initially launched with a $250 cap, has been successful, prompting the increase to streamline the process and reduce paperwork for New Yorkers.
Read at www.amny.com
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