Have you lost track of an old bank account?

Commonwealth of Australia Assistant Treasurer Kelly O'Dwyer said there are around 1.3 million records of unclaimed money worth $1.2 billion from bank accounts, life insurance policies, share portfolios and other investments in the government’s holding account. More than half of this is from lost bank accounts.

The unclaimed money rules preserve the value of money that might be lost or eroded by fees. Details of unclaimed money are searchable on the Australian Securities and Investments Commission's MoneySmart website. Lost money can be reclaimed at any time.

Banking Day

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