We love helping to find lost or unclaimed money that is sitting in Australian Government Registries and Trusts. We have three models to support your Search for Lost Money.
- You can look yourself for any Lost Money.
- You can use our tips and lessons learnt in the various articles we have posted on Unclaimed Money.
- You can ask our team to help look for you.
We engage a significant amount of our time and resources to help find lost money for Service, Non Profit, Volunteer and Charity organisations.
What is Unclaimed and Lost Money?
It is money that has has become disconnected from it’s rightful owner.
After a period of trying to pay the rightful owner, a Payor Organisation or Department puts it’s hands up and says “we can’t find the Payee”.
The Payor Organisation or Department then contacts the Official Australian and State Government Regulated entity and registers details of the Payees Unclaimed and Lost Money. Simple examples of Lost and Unclaimed Money might include: Energy utility refunds, Share dividends, Taxation refunds etc. The Australian Government reports there are Billions of Payee Dollars registered as Lost or Unclaimed Money with the various Australian Government departments.
Where is Unclaimed and Lost Money?
The Payees money is held in Trust registries by Federal and State Government Departments.
At the Federal level it is registered by the Australian Securities and Investment Commission (ASIC)
At the State and Territory levels of Government Lost and Unclaimed money is registered with various departments depending upon which State or Territory. But normally State Revenue Department Offices, State Trustee Offices or State Treasury Offices. Each registry is different. Most have publicly available search options. Most are free to search and claim.
How does Unclaimed and Lost Money Occur?
Normally the connection of money (for individuals and organisations) is lost and money becomes unclaimed because of some sort of CHANGE at the Payee end.
eg, change in Payee address, change in a Payee name (marriage), change in Payee business name
However … we have also identified and reconnected MONEY with MANY people and organisations that have the exact same Payee address and same Payee names. So it would appear, in those instances it may just be a problem in communication (email, postage, being away, or communication got lost etc etc).
In some cases a Payee cheque that arrives never gets presented for deposit at the Payee bank.
It can also be because a Payor collected incorrect initial Contact Details for the Payee. (eg we’ve seen incorrect postcodes that lead to letters returned)
Who loses Money and has Unclaimed Money?
We have found it does not discriminate. It can be any one individual or any type of organisation.
Large & small, government & private organisations, and individuals. However individuals and organisations that change a lot or move around a lot seemingly more prevalent.