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As refund consultants, we take it upon ourselves to reach out, assist and work with people who are entitled to claim their lost and unclaimed money. We will have contacted you because we believe that lost money we have located may belong to you. In most cases, people are unaware that their money is lost and waiting to be claimed so it's likely to be a nice surprise to learn that money could be owed to you and that you didn't even know about it. |
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It is our responsibility to locate the rightful owners and reunite them with their lost money | ||||||||||||||
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We liaise with the various
holding authorities to ensure the full release of all monies
outstanding quickly and successfully. Occasionally, additional
information may be required by the department or financial institution
holding the money; if so then we will communicate this to you and
assist you to source the information.
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To process a claim, we
must first verify your claim. To do this, we require at least 100
points of identification, as per national banking standards. We
will also prepare an Agreement & Authority to Act, which sets out
the terms and conditions of our service and formalises your authority
for us to make the claim on your behalf.
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Once the funds are
released, they are then either forwarded to you by cheque or deposited
to your nominated account, less our processing fee.
Claims are completed within 6 to 8 weeks of receiving all the
correct claim documentation.
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How do people misplace millions of dollars every year? |
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Every day, people and businesses leave cash in financial institutions, insurance companies, government authorities and other organisations. It’s human nature to forget and even the best kept records can have gaps. As absurd as it sounds, it happens constantly. It is estimated that 1 in 3 individuals actually have money owing to them without their knowledge. Most commonly, money is lost or misplaced because of:
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| Moving Overseas | Oversight | Moving House | |||||||||||||
Read more about unclaimed
money in the news
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This particular
article, from the Sydney Morning Herald, refers just to lost bank
accounts. From this you can see that you're not alone in having lost
funds. An enormeous $1.1 billion dollars is currently sitting in
various trust funds, unclaimed by Australians.
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| What are lost and unclaimed monies? |
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| Individuals and companies sometimes lose track of the money they own , for example, bank accounts, shares, bonds, life insurance policies and other types of investments. This may happen because of a change of address, a change of name, a change of employer, a move overseas and, sometimes, just plain oversight. Where this happens, and the financial institution or previous authority is unable to locate the owner of the money, the money is considered "lost". In most cases, lost money is transferred to a Government trust account and remains there while it is "unclaimed". What may interest you is that, if owners of this money do not step forward, this money is then taken up as Government revenue. In most cases this is the inevitable fate for lost money unless the correct owner steps forward to claim their lost money. |  |
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What makes this
process even more difficult is that each state in Australia has
separate laws relating to lost funds and various institutions
responsible for lost monies unique to that state (with their own set of
individual claiming rules and procedures). This can make this process
very difficult as small mistakes can lead to a much more difficult
return process later and may require months of assistance in order to
complete the claim. Therefore, it’s always better to make sure that
your claim is done right the first time.
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What types of monies can be
lost and waiting to be reunited with their owners?
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Matters we commonly
assist with include unpresented cheques, superannuation, company
takeovers, and rental and local council bonds.
We also assist in areas such as: * Lost Bank Accounts * Lost Shares * Lost Life Insurance * Many other forms of lost monies |
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If I don't choose to claim these lost monies, what happens then?The answer is simple;
the funds will stay (in many cases) in a government trust account
and will remain unclaimed. Then, depending on which authority
holds the funds, the money will eventually be transferred into the
Government's consolidated revenue fund once a certain period of time
has passed. Once this happens, and the government gets it, it’s
gone and there is no further chance of recovery.
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How is my money returned?Our refund experts
specialise in finding unclaimed funds for Australian individuals and
companies who have lost track of their money. We assist in first
verifying the identity of the rightful owner(s) and then assist with
the claims process by managing the documentation, preparation and
submission of claims. We then follow through the
process to completion, and the return of your lost monies to you.
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What
laws do we have to abide by?
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Home | Downloads |
FAQ's |
Terms & Conditions |
Contact Us |
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| NDIS Support | Online Safety | Other Things |