Unclaimed Assets – Australia

There is around $1 billion worth of unclaimed financial assets lying in Australia and some of the cash could be yours!

Unclaimed money from lost bank accounts, shares, investments and life insurance policies are deposited with the Australian Securities and Investments Commission (ASIC). The Commission are Australia’s financial services regulator and they hold the unclaimed assets in a special fund.

Unclaimed money received by ASIC is always claimable by the rightful owner and there is no time limit on claims.

In many cases money becomes unclaimed simply because people move house and forget to update their details with the company who holds the money. Bank accounts become unclaimed after 7 years if the account is inactive and Life insurance policies become unclaimed 7 years after the policy matures.

We would be happy to assist you to recover unclaimed assets in Australia although you can start the claim process yourself using ASIC’s MoneySmart website.