Finger Lakes Region Holds Over $5.2 Million in Unclaimed Gift Card Funds
To date, the Comptroller’s Office holds over $19 billion in unclaimed funds, and the office processes an average of $1.5 million in claims every business day.
New York State Comptroller Thomas P. DiNapoli is urging New Yorkers to make the most of their holiday gift cards and avoid losing their value. In an effort to raise awareness, DiNapoli highlighted that gift card balances left unused for five years may be transferred to the Comptroller’s Office of Unclaimed Funds (OUF).
“’Tis the season of giving, not losing, so please spend those gift cards and check to see if you have unclaimed funds,” said DiNapoli. His office recovered a staggering $21 million from unused gift cards in 2024, more than three times the amount recovered a decade ago in 2014.
Gift card balances add up quickly. New York City residents top the list, collectively holding nearly $48 million in unclaimed funds from gift cards. Meanwhile, Finger Lakes residents are owed a significant $5,282,819 in unclaimed gift card balances.
The Comptroller’s Office works closely with retailers to identify the rightful owners of unused gift cards. DiNapoli explained that if a card was registered online, used for a refund, or linked to a store account, retailers can provide the OUF with the cardholder’s information. Otherwise, the OUF receives only the card details, which can still help the owner claim their balance.
In 2025, newly enacted legislation will allow for quicker returns of certain unclaimed funds. Balances of $250 or less may be refunded automatically without requiring a claim form if the OUF can confirm the owner’s identity and mailing address.
DiNapoli also encouraged recipients to carefully review the fine print on their cards, noting potential fees or expiration dates. Registering gift cards with the retailer can further expedite the claims process.
To date, the Comptroller’s Office holds over $19 billion in unclaimed funds, and the office processes an average of $1.5 million in claims every business day.
Visit the OUF website to check for unclaimed funds and spend those gift cards before it’s too late!
