RALEIGH, N.C. (WNCN) — North Carolina’s State Treasurer, Dale Folwell, says North Carolina is giving away a record amount of free money. It’s all because of unclaimed property you might not know about.

The Treasurer’s department has more than $1.2 billion in its escheats fund, where abandoned and unclaimed property is preserved until the rightful owners claim it.

It’s been a couple of years since the treasurers office’s NCCash program launched the “NCCashMatch” component, where the state sends you a letter verifying who you are and the property you have out there.

That property consists of anything from bank accounts and utility deposits to stuff from abandoned lockboxes. If you respond back confirming that information, the treasurer will send you a check. 

Folwell said the “CashMatch” component is leading to more people getting paid. His department’s unclaimed property division paid nearly 179,000 claims last fiscal year, adding up to a new record of more than $105 million.

“Those checks can be anywhere from five dollars to, you know, almost five-thousand dollars,” Folwell said.

The program has already paid out $28 million in claims over the last three months and Folwell said they’re on pace to set another record this fiscal year.