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Author: Windowseat Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308349  
Subject: Re: Thanks but no thanks Date: 9/25/2013 12:37 AM
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About a year ago I noticed my name was on my states unclaimed property website for $5. Turns out it was a rebate check from Energizer that I hadn't cashed a few years before that. I was able to contact the company and get them to reissue the check.

I wonder if the gift card with the maintenance fee might be a way from companies to get around the problem of dealing with people like me who might lose a check. Instead of having to keep the unclaimed check on their books this way allows them to get it off their balance sheet one way or another.


A long while back my mother gave me six shares of Avon. (The broker was trying to think of a 'feminine' stock. I've pointed out since then that for the exact same price she could have given me six shares of GE). So Avon would send me dividend checks for $0.30 every three months, and I'd lose them, so they would send me checks for accumulated dividends, and eventually they sent me a letter asking me if I wanted to reinvest the dividends, and I said fine.

I now own 120 shares of Avon. (They've had some splits as well, but those reinvested dividends have really added a lot of value).

So clearly the little checks are a regular problem for large companies, and yes, they're probably trying to figure out how to stop wasting money tracking them.

Nancy
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