A Financial New Year is a great time to “Treasure Hunt” for Unclaimed and Lost Money

Go on a Treasure Hunt for Lost MoneyJuly is a great time to look for any of your Unclaimed or Lost Money!
So what do you need to know to start the “Treasure Hunt” today?

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).
Or 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.

Why Reconnect with Lost and Unclaimed Money?

The minimum amounts held in trust by the various Government departments start from 1 cent.  So that may not be economical to reconnect and recover.  But sometimes the dollar size of the lost amounts make it obviously worth the process.  It’s also of interest to note that some amounts in some jurisdictions may be applicable to lost interest too.
Other reasons may include where Organisations want to account for all amounts (no matter how small) of their money officially.
It’s also important to note that some types of amounts and in some jurisdictions, the Lost and Unclaimed Money may be subject to a “use by date” when the amounts will absorb into Government General Income

How do we Start?

Start finding your lost moneyWe can help with the search and identification of Lost and Unclaimed Money.

We have identified hundreds of thousands of dollars already in a short time and have helped commence the process of reconnecting large sums of Lost and Unclaimed Money for individuals and organisations.

We don’t have any charges upfront.
We don’t hold you to anything.

We see it as a Treasure Hunt to go along with you.
We have a pretty good strike rate, but we never get too smart, as always the exception can be the case!

eg, Where our treasure hunt has hit a snag in the past.
– we have found the same individuals given and surname in the exact same street, but it’s not our Payee’s money.
There’s an exact same unrelated name in the area.
– sometimes it may costs more to get the Payee’s Lost money from a liquidated deregistration than the lost money is worth.

We’ve had plenty of thankful joint treasure hunters.

Share the Joy

During or at the end of the Treasure Hunt, if you feel like we have helped then certainly we’d appreciate sharing in your joy.
Examples of that “joy” so far have depended on the Payee’s Treasure amount.
Hence our “sharing of your joy” experience has ranged from the equivalent value of a few things like
– share a coffee
– shout take away for the team
– treat dinner for the team at a fancy restaurant
– custom amount
Via our Big Days Thanks page

Alternatively, we can also provide a Tax Invoice/Receipt for those organisations or individuals that require it.
Please just talk to us.

I look forward to helping in the Treasure Hunt of finding your Lost and Unclaimed Money.
Contact us Today.

 

Posted in Money, News.