The one thing bad about becoming an unclaimed money finder in Ohio is the hoops you have to jump through to become one.
It’s not as complicated and time consuming as becoming a private investigator (usually three years), but it is time consuming as the staff is shorthanded and it takes a while for them to do what they need to do on their end.
Nothing against the staff at all, they are actually excellent, they just have a lot to do. Plus they probably get many inquiries from people looking to become finders that don’t pursue it.
This way, you have to be persistent and they know you are serious.
They are actually a very finder friendly state once you follow their rules on becoming a finder and then follow the laws they have in place.
When you apply to be a finder in Ohio, you are first sent a packet that includes:
1. Application for Finders Certificate of Registration
2. Acknowledgement of Finder’s Ethical Obligations
3. Criminal background check instructions
4. Ohio Finder Law Highlights
5. Copy of Finder related provisions
6. Sample Finder Agreement
7. Information on the DVD of Unclaimed Funds Accounts
You must agree and sign off on all of the finder requirements. These need to be notarized.
Regarding the criminal background check, you also need to get fingerprinted for the state. That is something you have to pay for yourself. That was $60 for me.
If you don’t live in Ohio, as I don’t, you also need a federal background check (FBI), which means you need to be fingerprinted for that (another $60).
You also need to include two letters of reference (recommendation) from two non-relatives, plus a color picture of yourself.
Once they have reviewed everything, they send you a certificate with your finder number. That number needs to go on any agreements you submit. It also helps to show any potential clients that you are legitimate.
You can then purchase the unclaimed money list on DVD and get started.
You can charge up to 10% as an unclaimed money finder.
You can read the complete Ohio Unclaimed Money Law here.