Australian Securities & Investments Commission urges Australians to check Moneysmart for AUD 2.7 billion in unclaimed money

The Australian Securities & Investments Commission has reminded Australians to check whether they have lost or unclaimed money, with about AUD 2.7 billion currently waiting to be reunited with its owners. The funds are held by ASIC when banks, insurers and companies cannot return money after seven years. There is no deadline to claim, and people can search and claim for free through the Moneysmart unclaimed money tool. Unclaimed money often comes from old bank accounts, shares or insurance policies where the owner has moved house, changed name or lost track of the account. ASIC said visits to the Moneysmart unclaimed money page rose 74% year on year between March 2025 and March 2026. The largest single unclaimed amount is about AUD 1.3 million. Claims on old bank accounts under AUD 500 should be made with the bank, while amounts above AUD 500 are held by ASIC. Some balances may also earn interest from 1 July 2013 onwards. A search requires a name or surname and, if a match is found, the transaction number needed to submit a claim. Claims usually require proof of identity and documents linking the claimant to the record, although alternative verification may be available for older accounts. ASIC also noted that state and territory governments may hold other types of unclaimed funds, including wages, salaries, share dividends, and estate or trust proceeds.