Claim Money Owed To You Today!

The Australian government currently has over one billion dollars in unclaimed money just waiting for you to claim. This money has been sent in by former employers, financial institutions, insurance companies, and other agencies that are required to turn this money over if they are unable to locate the rightful owner.
You may have unclaimed money waiting for you that you do not even know about. Below are more details about this unclaimed money, how to find out if you are owed any money, and how to request it.

Unclaimed Money
Employers, financial institutions, insurance companies, and other agencies are required by law to submit any money owed to a person, when that person cannot be found. They typically have between three to seven years depending on the type of money that is owed. This money may be due for a variety of reasons, including a dormant bank account, wages, insurance payments, deceased estates, lost shares, lost superannuation account, proceed of a sale and more. This money is held by the Commonwealth of Australia Consolidated Revenue Fund until it is claimed by the right person.

Check to See if You Are Owed Money
These unclaimed funds are tracked and monitored by the Australian Securities and Investment Commission (ASIC). This agency typically sends out a letter to the person who has unclaimed money waiting for them. However, it is possible that you may have moved, or the business or institution that owes you money may have had an incorrect address. Although, the ASIC tries to locate everyone, there are still many people who they cannot track down. The ASIC has also a created a database consisting of the names of everyone who has money waiting to be claimed.

This database can easily be checked by using just your first and last name. This check is absolutely free of charge and you should never pay a company that tries to charge you for this service. If you think that you should be owed money that is not in the unclaimed money fund, you should contact the business or agency that owes you money directly to see where your funds are. If they are unwilling to help you, you can contact the ASIC or a financial counsellor for help.

How to Claim Your Money Today
If you find that you do have money waiting for you in the unclaimed money fund, you will be required to complete a special form to request this money. Part of this form will require you to be able to prove your identity by providing the necessary documentation. Once the ASIC receives your request, they will start processing a cheque to distribute your fund. This process typically takes about 28 days, as long as the initial application is completed properly and the proper proof of identity is provided. There is no deadline for you to request this money, and in some circumstances, you may even be able to collect interest on the money that is owed to you.

 

Even if you do not think you are owed any money, it is always worth a chance to do a search just to be sure. You may be pleasantly surprised to find out that you do in fact have some money in the unclaimed money fund. This money can be used to offset some of your current bills, used towards the purchase of a specific item, or put directly into your savings account to have available later on if your need it. Learn about other ways to get a hold of cash without taking out a loan here.