Australians are reminded to check if they have lost or unclaimed money, with approximately $2.7 billion waiting to be reunited with its rightful owners.
Interest has increased recently, with visits to the Moneysmart unclaimed money page rising 74% year-on-year (March 2025 to March 2026).
Many people may be unaware they have lost money owing from old bank accounts, shares or insurance policies.
Unclaimed money typically arises when people lose contact with financial institutions or investment companies after moving house, changing their name, or simply forgetting about an account over time.
What is unclaimed money?
Unclaimed money is held by ASIC when banks, insurers and companies are unable to return funds to their owners after seven years.
In some cases, the money has remained unclaimed for decades, with records dating back to the 1950s. There is no deadline to make a claim, meaning you can search and claim at any time.
The largest single amount currently unclaimed is around $1.3 million.
Any claims related to old bank accounts under $500 should be made with the bank. Any unclaimed amount more than $500 sits with ASIC.
Even smaller amounts can accumulate over time, with interest payable on some unclaimed money from 1 July 2013 onwards.
How to check if you have money waiting
Australians can search for free using the Moneysmart unclaimed money tool.
The process involves:
- Visiting the Moneysmart website
- Entering a name or surname
- Reviewing any matches in ASIC’s national register
If a match is found, the tool provides details and a transaction number needed to make a claim.
The search and claims process is completely free, and people do not need to use private claiming services that charge a fee.
How to make a claim
In most cases, making a claim requires:
- proof of identity (such as a driver licence or passport)
- documents linking the person to the name and address on the record
- the transaction number (OTN) from the search result
ASIC uses this information to ensure money is returned to the correct person.
Where documents are missing – particularly for older accounts – alternative options may be available to help verify claims.
Don’t forget to check other sources
In addition to money held by ASIC, state and territory governments may also hold unclaimed funds, including:
- wages and salaries
- share dividends
- proceeds from estates and trust accounts
Australians are encouraged to check all jurisdictions where they have lived or worked.
A simple check that could pay off
With no deadline and no cost to search, checking for unclaimed money is a quick and simple step that could return funds people didn’t realise they had.
Anyone who has previously held a bank account, shares or insurance policy – or has moved house or changed name – is encouraged to do a quick search using the Moneysmart tool.
