New LA Wallet App Feature Helps Louisiana Residents Find Unclaimed Property

A new feature on the LA Wallet app can help you locate lost money you may have.

As of this past Monday, August 14, the LA Wallet app now features an easy-to-use unclaimed property search that allows users to check for unclaimed assets in their name.

Louisiana State Treasurer John M. Schroder said the collaboration will help streamline the Louisiana Treasury Unclaimed Property for citizens through the search feature on the wallet app.

“Nowadays, people can run their households and sometimes even their businesses from their cell phones," Schroder said. "An app-based solution for accessing unclaimed property makes perfect sense, It securely harnesses the power of technology in order to simplify the process for citizens, allowing them to reclaim their lost funds with ease.”

The new unclaimed property search feature is seamlessly integrated into the LA Wallet app, making it easy for users to search and discover any unclaimed assets.

“We are thrilled to be part of this process," said Calvin Fabre, co-founder of LA Wallet. "Address discrepancies have historically been a major reason why unclaimed property remains uncollected. By incorporating the Unclaimed Property search feature in the LA Wallet app, we can assist in returning money to the rightful owners.”

What is "Unclaimed Property?"

Unclaimed property is defined by the Treasurer's Office as uncollected funds from payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates, and life insurance proceeds.

How many people have money waiting for them?

Officials say that about one in six people have unclaimed property, with average claims amounting to $900.