Free Money! $42 Billion Unclaimed Funds Are in Banks Across the U.S., Some Could Be Yours, Here's How to Check

Free Money! That sure got your attention. Tons of money you or your loved ones may have forgotten about is piling up around the U.S. and there's a few different ways you can get it back.

According to the National Association of Unclaimed Property Administrators (NAUPA) about 42 billion unclaimed funds are lying around the vaults of various banks in the U.S. and some of it may belong to you or your family members. Rightfully so, the institutions housing them are required to give it back to you once appropriately identified.

Unclaimed funds are accounts in financial institutions or companies that have had no activity generated or contact with the owner for a year or longer, most commonly in savings or checking accounts, stocks, uncashed dividends, security deposits, IRS refunds and more.

NBC TODAY's Financial Editor Jean Chatzky points out, when merely searching for the money that could be yours, seekers should not be required to pay any money upfront, nor should sites require your social security information in the initial stages.

Chatzky encourages the use of MissingMoney.com and Unclaimed.org to find your missing money. Both web sites are endorsed by NAUPA and feature collective records from all state-held unclaimed property.

Once on either site, users are prompted to put in their name, previous used names, and any addresses you have resided at in the past. Chatzky advises, "if you're married, make sure to check under your maiden name as well. Using a first initial and your last name is also encouraged to make sure everything comes up."

Each state has its own method of returning unclaimed funds, for those who do not want to use third-party websites. It takes about three to four months to receive the funds.  Lastly, Chatzky advises, if using a locator service, do not pay upfront, and do not pay the service more than 10 to 20 percent of the money you are claiming.

Other sites that can be used to locate missing cash are IRS.gov and Treasuryhunt.gov. If looking for unclaimed pension money, the Pension Benefit Guaranty Corp. has a searchable database to find an unclaimed pension.