Unclaimed Money Recovery

Unclaimed Money Recovery Agents. 

Unclaimed Money Recovery Agents

BILLIONS of dollars available to be claimed from lost  Australian bank accounts, shares, dividends, investments, life insurance policies, superannuation, deposits, bonds, deceased estates and much more. 

There are an endless array of reasons as to why we have unclaimed money is because people move house and forget to update their details with the company who holds the money. Other reasons are;
Have you moved around and forgot to update just one company with your new address details or lodged a redirection order?

Have you moved Overseas and did not leave a forwarding address or redirection order?
 Have you left a Bank Account untouched for too long? – with no deposits or withdrawals the government can remove it to unclaimed money.

Have you forgot to claim money back in certain situations. Overpaid bills, bonds or deposits?
 Has an employer allocated shares to you under your contract, which you are unaware of? (eg: If you once worked for a bank, they sometimes allocate shares to their employees).

 Have you purchased health insurance, not realising you could be share holder of that company?
 Have you had financial advisers manage your investments in the past?
 The owner of an investment may have died and the entitled heirs are unaware of the money?
 company or bank mergers resulting in name changes and branch closings.

Are you aware of all your entitlements?

What is Unclaimed Money?

Unclaimed money is money/shares/investments/property held in an account or recorded that has been inactive for a period of time applicable to that asset. 

Bank Accounts:-
Where there has been no activity (deposits or withdrawals, excluding bank charges or interest paid) for (3) three years on an account, these unclaimed accounts are closed in line with Australia Government legislation. Banks are meant to notify you (based on the address information held) that the account will be closed if you do not take steps to reactivate the account.

Unclaimed bank accounts with a balance greater than $500 will be transferred to the unclaimed monies fund appropriate to the state laws where that company headquarters is based.

Superannuation-
With $1.3 trillion in Australian super funds and over $17 billion in lost and unclaimed super, it’s important to make sure super is working for you. The Australian Government is making improvements to super over the coming years to help protect and grow the savings of all Australians.
Australian Taxation Office does not hold all the unclaimed lost superannuation. The first changes only took effect from 1 July 2012, where by all the lost super will now be forwarded to the ATO. Previous to this it was forwarded to all different government departments. “This is also the reason why we have lost super located through our search”.

No one can hold data that the ATO collects/holds. The ATO held super includes amounts paid to them by employers, super funds or the government on your behalf that needs to go into your super. If your super fund can’t contact you or they are unable to find an account to transfer the money to, the ATO now holds this super.

We suggest you complete a search with the ATO “Australian Taxation Office” to rule out any other amounts that could be owing to you. Click here to learn more about Super!

Deceased Estates:-
Unclaimed Estate money comes about because the Beneficiaries have not been named specifically in the Will or there may have been no Will made and the next of kin cannot be located.
Bonds:

Unclaimed bonds are bond refund cheques issued by the Residential Tenancies that have not been presented for payment. Money remains unclaimed usually because people or businesses either forget to cash their bond refund cheques or move house without notifying the Residential Tenancies of their new address. If a cheque has not been cashed within 15 months, it is added to the unclaimed money list.

Other unclaimed money includes:-
o Investments – Shares and Dividends
o Lottery Winning
o Unclaimed Deposits – eg: water, electricity bonds, telephone.
o Unpresented Cheques
o Unclaimed Council Deposits
o Unclaimed Life Insurance
o Unclaimed Over payments – eg: deposit for Car Hire or Over payment of a bill.

What can you do to prevent your money becoming unclaimed?

You can take steps to ensure that your money does not become unclaimed. Making even a 5 cent deposit or withdrawal on your bank account once every 2 to 3 years will prevent your account becoming unclaimed.

Keeping in contact with the institution that holds your money, life insurance policy or similar financial product, by ensuring that they have your current contact details, will assist the institution in raising such matters with you.

If you have further questions or are concerned that you may have money that can become unclaimed, you should contact the institution that holds the money (e.g. your bank) and discuss your circumstances.

Is the money lost to me forever?

Unclaimed money is always claimable by the rightful owner, so there is no time-limit within which a rightful owner must make a claim. The money remains available to claim, even if it has been removed from online access or rolled into Government revenue.

Let  " Unclaimed Money Recovery Agents " guide you in tracking your lost money back efficiently and effectively through our quality system methods.

Visit Us: http://www.unclaimedmoneyrecoveryagents.com.au

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