Are you entitled to unclaimed money? Here’s how to check

Are you entitled to unclaimed money? Here’s how to check

by | May 8, 2022 | News

Strapped for cash? It’s a longshot, but there are free online searches which allow you to check whether you’ve got rights to any unclaimed money in Australia. Unclaimed Money is money from lost bank accounts, shares, investments and life insurance policies. This money generally becomes lost when you move house and forget to update your details with a financial institution or company.

Unclaimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue fund. It is available to be claimed at any time by the rightful owner and there is no time limit on claims.

Some people may receive letters from companies advising them that they can pay for assistance with their unclaimed money search, it is important to note that you can do these searches for free here:

State Governments may also hold unclaimed money from deceased estates, share dividends, salaries, cheques, trust money, over-payments and proceeds of sale to name a few. You can find the State Government links for free searches here:

It is important to also check that all your details are up to date and correct with Medicare and the ATO, as they may also be holding on to money on your behalf.