Unclaimed money

How to find your lost money

Around $1 billion is available to be claimed from lost bank accounts, shares, investments and life insurance policies.

As an example, money becomes unclaimed when people move house and forget to update their details with the company who holds the money.

From 31 December 2015 bank accounts become unclaimed after 7 years if the account is inactive (no deposits or withdrawals).

Life insurance policies become unclaimed 7 years after the policy matures and is not claimed.

Unclaimed money deposited with ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund. The unclaimed money received by ASIC is always claimable by the rightful owner and there is no time limit on claims.

Our MoneySmart website provides guidance on how to find unclaimed money.

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Last updated: 23/03/2016 03:05