No. of Recommendations: 6
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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