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One of the things we have to do as a bank is escheat money to the state. For example, any money orders that don't get cashed have to be reported to the state and the funds turned over to them after five years. Since it's a pain for customers to get their money after it's been escheated, we try to contact customers before doing that.
One of the money orders we had outstanding was for overpayment of a loan. The customer had taken out a small loan, paid it off after a year, and sent a bit extra with the last payment. So we sent him a $50 money order along with his paid loan documents. He never cashed it.
Now, five years later, we're trying to make one last ditch effort to contact him. Both of the phone numbers we had were disconnected, so I sent him a letter. He emails me back and says he must have lost the money order. Cool. I send him a replacement money order, which he cashes right away this time.
I feel super good about getting this guy his money, even just $50, even 5 years later. He wasn't very well off 5 years ago, and I doubt that's improved much since. I might be reading too much into it, but even a small amount of unexpected money like that can really brighten someone's day.
One of the money orders we had outstanding was for overpayment of a loan. The customer had taken out a small loan, paid it off after a year, and sent a bit extra with the last payment. So we sent him a $50 money order along with his paid loan documents. He never cashed it.
Now, five years later, we're trying to make one last ditch effort to contact him. Both of the phone numbers we had were disconnected, so I sent him a letter. He emails me back and says he must have lost the money order. Cool. I send him a replacement money order, which he cashes right away this time.
I feel super good about getting this guy his money, even just $50, even 5 years later. He wasn't very well off 5 years ago, and I doubt that's improved much since. I might be reading too much into it, but even a small amount of unexpected money like that can really brighten someone's day.
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