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State Treasury adds rebates to unclaimed property listings

State Treasury adds rebates to unclaimed property listings

HARRISBURG -- Pennsylvanians have another reason to check the state Treasury's listing of unclaimed property, after the office announced today that it will be adding reports of nearly $2 million in promotional rebates that were never received by consumers.

The new set of unclaimed rebates are the result of a settlement between the treasurer's office and Parago Inc., a Texas-based firm that processes promotional rebates for national retailers and manufacturers, such as Staples and Verizon.

According to the treasurer's office, Parago would retain rebates that went unclaimed in exchange for offering a discount on its processing fees, or in some cases, it returned the rebate dollars back to the retailer. Instead, rebate accounts for customers who could not be located should have been handed over to the state Treasury.

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"If consumers are promised a rebate, they should receive that rebate," Treasurer Rob McCord said in a statement. "It shouldn't go to pad the bottom line of a company that promised it as a sales incentive in the first place."

Treasury spokesman Mike Smith said Parago will be turning over its first installment report with names of those with unclaimed rebates in the coming days, with that information to likely be available by next week.

The Treasury also connects residents with other forms of unclaimed property, such as the balance of an inactive bank account, uncashed payroll checks or utility company refunds.

To check the state Treasury's online unclaimed property database, go to http://www.patreasury.gov/Unclaimed/Search.html or call 1-800-222-2046 during weekdays.

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First Published: December 18, 2012, 9:45 p.m.

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