Level 49, 10 Darcy Street 8 Parramatta Square Parramatta, NSW 2150 Sydney, Australia
Where Unclaimed Funds Are Held
In simple terms, unclaimed funds are often deposited into a government trust account and left unclaimed.
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Lost and Unclaimed Money
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How Money Becomes Lost or Unclaimed?
People and businesses can lose track of their money due to changes such as a new address, name, or relocation. When this happens, financial institutions may classify the funds as ‘lost’ and transfer them to a government trust account. If left unclaimed, the money eventually becomes government revenue.
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Why Claiming Unclaimed Funds Is Complex?
Each State in Australia, New Zealand, UK, USA and Canada has its own laws and agencies for managing unclaimed funds, making the claiming process complex. To avoid delays, it’s crucial to ensure the claim is accurate from the beginning.
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How We Help You Claim Your Money?
Our team of trained refund professionals guides you through the entire claiming process, ensuring all forms and documents are completed accurately. We stay up to date with the latest industry regulations and work with government agencies to make the process faster and simpler. With our expertise, you can confidently recover your lost or unclaimed funds without unnecessary delays.
What occurs if you don’t claim the funds?
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Unclaimed Money as Government Revenue
After a certain period, which varies by authority, the money is transferred to the government’s consolidated revenue fund.
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When Funds Become Government Property
Essentially, the government takes ownership of the funds, making them no longer accessible to the original owner.
Types of money that is lost and waiting to be claimed
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$Million Shares
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$Billion Bank Accounts
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$Million Life Insurance
What laws do you have to abide by?
Consumer protection laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, mandate that we follow correct procedures and provide accurate information. We are legally required to promptly refund your funds to your preferred bank account or by cheque.
What is the Unclaimed Money Association?
The Unclaimed Money Association is the peak body for the Unclaimed Money Industry. The Unclaimed Money Association provides the industry, agents, government and the public with proper representation, information and education. The Unclaimed Money Association provides industry guidelines for service providers to best practice in the unclaimed money industry.
How do we stay up to date?
We are trained through Create, they serve as a third party validating our claim as refund professionals. We are frequently updated with industry information which keeps our knowledge and training relevant so you can be sure you are putting your trust in the hands of up-to-date industry experts.
Are we certified as consultants?
WHO WE HELP
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Individuals
We assist individuals in recovering lost or unclaimed funds owed to them.
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Corporate & Business
We support corporations and businesses in identifying and claiming unclaimed money efficiently.
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Government & Charities
We also work with government bodies and charities to manage and recover unclaimed funds responsibly.
What is the process for returning my money?
How do so many millions of dollars go missing each year?
Every day, individuals and businesses leave money with financial institutions, insurance companies, and government authorities. It’s human nature to forget, and even the best records can have gaps. As surprising as it may seem, this happens frequently. It’s estimated that 1 in 3 people may have unclaimed money without realizing it. Money is most commonly lost due to:
Overseas Move
You might have forgotten about a deposit—something that happens more often than you might think. Many people relocate overseas and forget to update their details with their service providers.
Oversight
People often forget about their investments. For instance, you might have purchased shares when you were younger and completely forgotten about them. This is quite common. Over time, these forgotten assets can become classified as unclaimed funds.
Moved House
You might have moved and forgotten to update your new contact details with relevant organizations, making it difficult for them to reach you. Alternatively, your new address might not have been updated correctly.
Name Change
You may have changed your name due to marriage, divorce, or personal reasons and not updated it with financial institutions. This can prevent organisations from matching accounts to you, causing funds to become unclaimed.
Check our FAQ section below to see if your question has already been answered by clients like you.
What is lost money?
Unclaimed Money or lost money is a term used to describe funds that have been unable to be returned to the entity they belong to. It’s easy to end up with lost funds, even the best kept records can sometimes miss something. Have you ever moved house or even opened up a new bank account? Chances are you could have money owing to you.
Where does the money go?
Once the firm you were dealing with has made a reasonable effort to reunite the entity with their lost funds they are then expected to transfer those funds to the Government where it waits until the entity steps forward to redeem it. The Australia & New Zealand Government is currently sitting on almost $10 BILLION worth of lost money!
How do we locate you?
It’s our job to track down people with money owing to them. We use a range of methods to get in contact with you; all of which are legal and ethical. We respect your privacy and only use the details given to us by Government entities in attempts to reunite you with your lost money. We believe people should be given the chance to claim it back.
How long will the process to claim my money actually take?
It is difficult to put an exact time frame on the claim process as we are dealing with busy Government departments, and as such, we often have to wait days for a reply. As soon as we hear back from them, we get in touch with you as soon as possible to let you know.
What if I don't want to claim it?
Not everyone wants to claim their lost funds for what ever reason. We offer a service which involves donating your funds to a charity of your choice. Not only is this a feel good exercise for us, but it is often quite satisfying for our clients, knowing that the funds they didn’t want went to a good cause.
How much is this going to cost me?
Our service does not involve any upfront fees or payments so you don’t have to worry about having to make payments you can’t afford. Our fee will vary depending on the amount that needs refunding. But please be aware that you will not have to pay a cent until your money is fully refunded. We don’t get paid unless you do, this minimises your risk and ensures you aren’t hit with fees that you can not afford.
Can I do it myself?
Can and should are two very different words. Just as you wouldn’t represent yourself in court, you shouldn’t try to claim lost money yourself, unless you have the knowledge to refund it the correct way. If handled incorrectly, your money can end up in all kinds of trouble. It is better to get it done right with the professional assistance of our experienced refund consultants.
Why am I being asked for more information?
Government departments often require more identification once the claim has been submitted. Please understand that this is normal and that we endeavour to ensure that your claim is processed as swiftly as possible while adhering to Government department specifications and requirements.
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Location
Level 49, 10 Darcy Street
8 Parramatta Square Parramatta,
NSW 2150 Sydney, Australia -
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Unclaimed Money Recovery
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Contact: +61 2 7813 0238 | +61 422 560 443