Our speciality is in research and discovery of Unclaimed Money from Bank accounts, matured Insurance policies, Investment dividends and maturities, compulsory acquisition of shares and other property, ATO, deceased estates and Court security deposits for individuals and corporations.
I have been helping owners of such monies to recover their lost funds since 1989 and all of the owners have been grateful for the result, although disappointed that their money was lost to them for a while.
Unclaimed Money funds can be held by both State and Commonwealth governments through their various agencies, as well as Banks, Life Insurance companies and Listed and unlisted corporations.
Legislation covers all aspects of Unclaimed Money and protects the rights of owners. Ownership of such money does not change and the rightful owner has the right to claim it at any time. Obviously, the more time has passed, the harder it is to prove ownership. Particularly is this the case where the company's records are incomplete.
How does it get there?
There are many reasons. It can be as simple as
not advising your new address after moving
residence, mail going astray, clerical error in the office of the bank, life insurance office, broker or employer etc. Or if you do not use your bank account for a while, the bank will consider it dormant and hence, unclaimed.
Depending on the source of the money or investment type, the length of the time period before it becomes unclaimed will vary. Each is clearly specified by both State and Commonwealth legislation.
Note that all states and territories in Australia have their own legislation covering unclaimed money as does the Commonwealth government. New Zealand has parallel systems also.
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Unclaimed Money Specialist
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Registered Unclaimed Money Finder
Non Advisory Financial Service
No up front charges
All assistance with claims
How to prevent it
Basically, its up to you. No one cares about your affairs as much as you do. So, look after yourself.
Keep a list of people that you must advise when you relocate. Add to this list each time you open a new bank account or take out an investment. Some of the simple things that are overlooked are security deposit with power/gas companies etc.
When you move, contact them all and ensure that all records are updated. eg. your drivers license AND motor vehicle registration.
If you have a bank account that is infrequently used, make a small transaction in at least yearly.