Its the stuff movies are made of, normal hard working person discovers they are entitled to millions of dollars and instantly that person’s financial woes are over.
Well for 99.99% of us it will just remain a movie story line, however you may discover you have a few $$ owing to you.
In the USA 60 billion of unclaimed funds are tied up in various government and funds,that many Americans are entitled to thanks to money left behind by them or their relatives.
In Australia there is around 1.1 billion dollars in lost shares, bank accounts and life insurances and NZ its in the millions from trusts, banks, Insurances and dividends.
In the US a recent website named Go Look Up has been launched to help US residents uncover any unclaimed funds.
In order to seek, find and retrieve lost funds, GoLookUp allows users to conduct a nationwide search using three personal details: first name, last name and the state that may have the lost funds. Within minutes, the fast and nationwide search engine scans and aggregates information from millions of public records in order to find unclaimed money.
In Australia, ASIC looks after this, money in Australia is considered unclaimed if its left there after 7yrs.
This money becomes lost when you move house and forget to update your details with a financial institution or company.
Unclaimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund but is available to be claimed at any time by the rightful owner and there is no time limit on claims.
Bank accounts become unclaimed after 7 years if the account is inactive (no deposits or withdrawals). Life insurance policies become unclaimed 7 years after the policy matures and is not claimed.
In NZ its 6yrs and the money is held by the treasurer for this time before its released to IRD,
Unclaimed money is money held by a person or organisation, such as a solicitor or a Bank, where the owner of that money (or someone with authority to act on behalf of the owner) cannot be found.
In general, money is classed as unclaimed after a certain length of time has passed since the person or organisation holding the money has been able to contact the owner. The length of time depends on the type of money.
As for me, I found $42 tucked away. Not a bad 20mins of internet surfing.