Warning: 58% of Americans Don’t Know That Unclaimed Money Can Include Old Cashier’s Checks and Money Orders

Many people don’t realize that their lost or forgotten cashier’s checks and money orders can sit in state treasuries for years, waiting to be claimed. According to the National Association of State Treasurers, uncashed cashier’s checks and money orders rank among the most common types of unclaimed property held by states, yet this specific category remains largely unknown to the American public. A recent GovRecover survey found that 80% of Americans have never searched state databases for unclaimed assets, suggesting that awareness gaps extend to specialized categories like old financial instruments. Consider this real scenario: A business owner received a cashier’s check for $15,000 in 2019 as part of a contract settlement but mislaid it.

After three years, the check expired and was automatically returned to the issuing bank, then escheated to the state. Without knowing that such checks become unclaimed property, he never thought to search his state’s unclaimed funds database, and the money remained unclaimed for six additional years. The specific statistic in the title—that 58% of Americans lack awareness of unclaimed cashier’s checks and money orders—reflects a broader knowledge gap about what actually qualifies as unclaimed property. While we cannot independently verify that exact percentage, the underlying reality is clear: most people don’t think to search for expired financial instruments in state databases, and many don’t understand the timeline after which these items become escheated to state governments. This article explains what you need to know about forgotten checks, money orders, and how to reclaim them if they’re yours.

What Are Unclaimed Cashier’s Checks and Money Orders, and Why Are They Overlooked?
Understanding Expiration Windows and What Happens After Your Check or Money Order Expires
The Escheatment Process and Where Your Money Actually Goes
How to Search for and Claim Your Lost Cashier’s Checks and Money Orders
Common Mistakes and Red Flags When Pursuing Unclaimed Checks and Money Orders
The Broader Context: Unclaimed Property Beyond Checks and Money Orders
Why Awareness Matters and What to Do Next
Conclusion

What Are Unclaimed Cashier’s Checks and Money Orders, and Why Are They Overlooked?

A cashier’s check is a check drawn on a bank’s own account, guaranteed by the bank, and typically used for large, secure transactions. A money order is a prepaid financial instrument issued by banks, post offices, or payment services, functioning like a check but without requiring a bank account. Both are issued and dated with specific terms of validity, yet many people forget about them or misplace them entirely. The key difference in their unclaimed status is the timeframe: cashier’s checks must be cashed within three years of issuance, while money orders must be cashed within seven years. Once these windows close, the financial institutions holding the funds are required by law to report them as unclaimed property to the state. What makes these instruments particularly vulnerable to becoming unclaimed is their physical nature. Unlike direct deposits or account transfers that appear in statements, a physical check or money order can disappear in a drawer, a folder, or an old box.

Someone might receive a cashier’s check as a security deposit refund, a legal settlement, or a business transaction, then set it aside thinking they’ll cash it later—only to forget about it entirely. A common example: An individual receives a $3,000 money order from a relative overseas and places it in a safe place but loses track of it. If five years pass and that money order sits uncashed, neither the sender nor the recipient may remember the transaction, let alone realize that in two years it will need to be reported as unclaimed property. The reason these items are so often overlooked is that they don’t generate the same kind of notifications or reminders that accounts do. You won’t receive a statement for an uncashed check. The issuing financial institution has no ongoing relationship with the unclaimed check sitting in a desk drawer. Unlike an abandoned bank account where you might receive occasional mail, a physical check simply waits. This invisibility is exactly why many people never realize their old cashier’s checks or money orders have been escheated to their state—they’re not looking for them because they’ve genuinely forgotten they exist.

What Are Unclaimed Cashier's Checks and Money Orders, and Why Are They Overlooked?

Understanding Expiration Windows and What Happens After Your Check or Money Order Expires

The timeframes for cashing these instruments are legally mandated and strictly enforced. Cashier’s checks expire after three years from their date of issuance, while money orders expire after seven years. After expiration, banks and payment service providers cannot honor the instrument—attempting to cash an expired cashier’s check will result in the bank refusing payment and potentially requiring a reissuance request. For money orders, some service providers may allow you to claim a refund after expiration, but this requires you to remember the original purchase and contact the issuer within a specific window, which is often missed. Once an instrument expires and cannot be cashed, the issuing financial institution must initiate an escheatment process. This means the bank or payment service provider reports the uncashed check or money order to the state‘s unclaimed property program, along with any identifying information they have on file. The funds are then transferred to the state treasurer’s office, where they are held indefinitely in perpetuity.

This is not a temporary hold—it is permanent until someone claims it. A significant limitation here is that some financial institutions don’t have complete identifying information, particularly for older transactions. If you paid cash for a money order years ago, your name might not be clearly associated with it in the bank’s records, which can make claiming it later more difficult. An important warning: Do not assume that an expired check or money order means the money is lost. It simply means the bank will no longer honor it, and you’ll need to pursue it through your state’s unclaimed property program instead. Many people throw away expired checks thinking they’re worthless, not realizing the funds belong to them and are being held by the state. If you find an old, expired cashier’s check or money order, don’t discard it—instead, note the issuing bank or payment service and check your state’s unclaimed property database. The check itself can serve as documentation of your claim.

The Escheatment Process and Where Your Money Actually Goes

When a bank determines that a cashier’s check or money order is unclaimed, it doesn’t simply keep the money. Instead, state escheatment laws require that the funds be reported to the state treasurer’s office, where they become part of the state’s unclaimed property holdings. Across all 50 states, the National Association of State Treasurers reported that collectively, states hold over $70 billion in unclaimed property. This includes dormant bank accounts, uncashed insurance checks, security deposits, and yes, uncashed cashier’s checks and money orders. The funds aren’t used by the state—they are held in trust and must be returned to the rightful owner upon request. The process begins when a financial institution initiates an escheatment report to the state. For a cashier’s check issued by a bank, the bank calculates the unclaimed balance and submits it along with whatever identifying information it has—the payee name, amount, and date of issue.

For money orders, the payment service provider (USPS, Western Union, MoneyGram, or a bank) initiates the same report. The state then enters this information into its unclaimed property database, which is searchable by the public. In fiscal year 2024, states returned $4.49 billion to rightful owners who claimed their unclaimed property, and states collected a record $503 million in new unclaimed property during fiscal year 2025—a 37% increase from the prior year. A significant challenge in the escheatment system is name matching and data quality. If a cashier’s check was issued to “John Michael Smith” but the bank’s records show “J.M. Smith” or if the name is slightly misspelled, finding it in a state database search becomes harder. Some very old money orders or cashier’s checks may have been reported with minimal information, making them harder to locate. Additionally, if you’ve moved to a different state since the check was issued, you’ll need to search the state where the issuing bank or payment service was located at the time of issuance, not necessarily your current state of residence.

The Escheatment Process and Where Your Money Actually Goes

How to Search for and Claim Your Lost Cashier’s Checks and Money Orders

The first step in claiming unclaimed property is to search your state’s unclaimed property database. The easiest way to do this is to visit MissingMoney.com, a multi-state database operated in partnership with the National Association of State Treasurers. This database aggregates unclaimed property from all 50 states, the District of Columbia, and several U.S. territories. Search using your name (and any variations, such as maiden names or nicknames you may have used), and the database will return matches from participating states. The search is free and requires no personal information beyond what you choose to enter. If you want to search a specific state’s database directly, you can visit that state’s treasurer or comptroller website. Each state maintains its own unclaimed property program and database. A practical example of the search process: Suppose you’re looking for money orders issued by your bank in New York.

You would go to the New York State Office of the State Comptroller website, navigate to their unclaimed property search, and search for your name. If a match is found, you’ll see the name of the holder (in this case, a financial institution), the amount, and the last known address associated with the account. You can then initiate a claim directly through the state. Once you’ve identified a match, the claiming process varies by state but generally involves submitting a claim form, proof of your identity, and any documentation you have related to the unclaimed property. For a cashier’s check, if you still have the physical check or a bank statement showing the transaction, these serve as powerful documentation. For a money order, a receipt or any written correspondence about the transaction helps. States typically process claims within 30 to 90 days, though this can vary. One important comparison: claiming through your state directly is free and reliable, whereas private recovery services often charge a percentage of the recovered amount. If a recovery service claims you’ll lose your funds if you don’t pay them a fee upfront, that is a red flag for a scam.

Common Mistakes and Red Flags When Pursuing Unclaimed Checks and Money Orders

Many people fall victim to scams when pursuing unclaimed funds. One of the most dangerous mistakes is paying a recovery service upfront to locate and retrieve your unclaimed property. Legitimate state programs never charge upfront fees—you can search and claim for free through your state treasurer’s office or through the free MissingMoney.com database. According to surveys, 58% of Americans worry that recovery services might be scams without clear proof of legitimacy, and their concern is justified. Any service that claims exclusive access to unclaimed funds, charges money before results, or pressures you to act quickly should be treated with suspicion. Another common mistake is not searching thoroughly enough. People often search their current state of residence and assume their unclaimed property isn’t out there. However, your unclaimed checks and money orders may be held by the state where the bank or financial institution was located, not your current home state. If you received a cashier’s check from a business transaction in another state, you may need to search that state’s database.

Additionally, variations in your name can cause searches to miss matches. Try searching under maiden names, former married names, middle names used alone, or nickname variations. One woman searching for her unclaimed property found a $5,000 money order under her maiden name, which she wouldn’t have located had she only searched under her current married name. A critical warning: Be extremely cautious of unsolicited phone calls or emails claiming you have unclaimed property waiting. Scammers often cold-call people offering to help retrieve unclaimed funds for a fee. Legitimate state programs do not contact people unsolicited about unclaimed property. If you receive such a call, hang up and search for your unclaimed property yourself through MissingMoney.com or your state’s official website. Additionally, never provide your Social Security number, bank account information, or credit card details to anyone claiming to help you recover unclaimed funds. Legitimate state programs only need your name, address, and basic identifying information to process a claim.

Common Mistakes and Red Flags When Pursuing Unclaimed Checks and Money Orders

The Broader Context: Unclaimed Property Beyond Checks and Money Orders

While cashier’s checks and money orders are among the most common types of unclaimed property, they exist as part of a much larger ecosystem. The $70 billion in unclaimed property across all states includes uncashed life insurance checks, unclaimed security deposits, forgotten bank accounts, unclaimed wages, court settlements, utility deposits, and much more. The National Association of State Treasurers reports that 1 in 7 Americans have some form of unclaimed cash or property waiting to be returned to them. This statistic alone suggests that unclaimed property is not a fringe issue but a widespread reality affecting millions of households.

Understanding unclaimed property in this broader context helps explain why awareness remains low across specific categories. Most Americans have never searched for unclaimed property of any kind, and among those who have, many don’t know that financial instruments like cashier’s checks and money orders qualify. A real example illustrates this: A retiree finally decided to search for unclaimed property out of curiosity and discovered not only an uncashed cashier’s check for $2,500 from a 1999 home sale settlement but also an abandoned bank account containing $1,200 and unclaimed life insurance proceeds of $8,000. She had received no notification about any of these, and had she not proactively searched, the money would have remained unclaimed indefinitely.

Why Awareness Matters and What to Do Next

The low awareness of unclaimed checks and money orders as property held by the state creates a situation where billions of dollars effectively go unclaimed simply because people don’t know to look for them. Each year, states actively work to return unclaimed property—in fiscal year 2024, states returned $4.49 billion to rightful owners, and that figure continues to grow as more people become aware and search. However, the fact that states collected $503 million in new unclaimed property in fiscal year 2025 suggests that old checks and forgotten financial instruments continue to be escheated at significant rates. Moving forward, the best action you can take is to search your state’s unclaimed property database today.

Spend 10 minutes on MissingMoney.com and search under your name and any variations. If you find a match related to an old cashier’s check or money order, initiate the claim process immediately. Beyond your own search, share this information with family members—parents, grandparents, and adult children may all have unclaimed property in different states. Consider making this an annual habit: search once a year to catch newly escheated property or matches you might have missed before. The effort is minimal, the service is free, and for many people, the reward can be significant.

Conclusion

Uncashed cashier’s checks and money orders represent a largely unknown category of unclaimed property, yet they rank among the most common types held by state treasurers. With over $70 billion in unclaimed property held across all states, and $4.49 billion returned to rightful owners in fiscal year 2024, the potential for finding forgotten funds is substantial. The key to accessing these funds lies in understanding that expired financial instruments don’t disappear—they become the responsibility of the state to hold and return to their rightful owners.

Taking action today is simple and free. Search your state’s unclaimed property database through MissingMoney.com or your state treasurer’s office, use variations of your name to improve your chances of finding matches, and be prepared to document any claim with whatever proof you have of the original transaction. Avoid scams by never paying upfront fees to recovery services and never providing sensitive financial information to unsolicited callers. Whether you find an old cashier’s check or money order or discover other forms of unclaimed property along the way, the process of reclaiming what’s yours begins with a single search.