Claim money from bank accounts and bank dividends
Bank accounts and other money from
banks
If you have found your name on ASIC's Unclaimed
Money Search and the money is from a bank account, here's how
you can claim the money. We also explain what bank account money
ASIC holds and how far back our database goes.
How to claim bank account
money
If you have found your name on ASIC's unclaimed
money search and the money is from a bank account, you
will need to approach the relevant financial institution. They
are responsible for assessing the rightful owner of the funds.
If your claim is successful, the bank will notify ASIC. ASIC
will then release the funds to the bank so the bank can then pay
you.
How long will your claim take?
You will need to check with the bank to find out how long it
will take to process your claim. Generally, ASIC will take up to 28
days from the time the bank lodges the claim with us then we will
release the funds to the bank so they can pay you.
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Step 1
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Record your Original Transaction Number
(OTN)
If you found your name on ASIC's unclaimed money search ,
then you would also have seen a unique Original Transaction Number
(OTN) relating to your claim.
Please note down your OTN. You will need your OTN to make
a claim.
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Step 2
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Check our list of
banks, building societies and credit
unions
This list will tell you if the bank you are trying to
contact is still operating. If they are not operating this list
will tell you which institution is responsible for deciding your
claim. For a complete list of banks, building societies and credit
unions that are authorise to operate in Australia, see the
Australian Prudential Regulation Authority's list of
Authorised Deposit taking Institutions.
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Step 3
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Contact the bank for information on how to make a
claim
Many banks have an unclaimed money contact person who can help
you with your enquiry. You should ask to speak to this person. In
addition to your OTN, you may need to provide documents like your
driver's licence, passport, bank statements or passbook, to
prove who you are and your right to the money. The proof will vary
from case to case and the bank will decide what it requires.
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What bank account money is held by
ASIC
ASIC holds money from bank, credit union and building society
accounts that have not been used in 3 years and contain a balance
of $500 or more. To find out more see changes to unclaimed money laws on the
ASIC website.
With savings bank accounts, ASIC's unclaimed monies online
search database goes back to 1989. Trading bank accounts go back to
1959. With credit union and building society accounts, our database
goes back to 1992.
If you think the account you are looking for was last accessed
before 1992, you should contact the state or territory government's
office of state revenue or state treasury where the bank, credit
union or building society was originally registered. For example,
if the credit union or building society was registered in NSW, you
will need to go to NSW Office of State Revenue. If you are unsure
where the bank was registered you should contact them to find
out.
Related links
Last updated: 10 Feb 2015
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