What Is Unclaimed Funds All about
- A Company, Organization or natural person due to death. liquidation, forgetfulness or neglect will leave money in an institution whether it be a Bank, Insurance or Investment Company or a variety of Government Offices etc.
- A letter or cheque will be sent to the rightful owner by the institution regarding the funds at their last known address.
- If this letter is lost in the mail, addressed incorrectly or does not reach you for whatever reason, and you do not respond or request a refund from the institution holding your money, it is then transferred into a trust account (non interest bearing) where it remains until claimed by its rightful owner.
- If this does not occur within a certain time frame, that money gets absorbed into general government revenue.
What Family Refunds Does For You
- At Family Refunds we are seriously committed to putting money back into the pockets of fellow Australians and Australian Businesses.
- Financial Institutions
This includes unclaimed Australian money from banks, credit unions, building societies, insurance companies, and friendly societies.
If your account has not been accessed for over 3 years, your funds may have been transferred from one of these institutions to the Commonwealth Government.
We can help you find unclaimed Australian money being held by financial institutions and the Commonwealth Government.
We can help you in finding unclaimed money from companies.
This money comes from shares that may have been acquired in a company takeover.
- Government Agencies
Australian Commonwealth and state governments hold unclaimed money transferred from financial institutions, superannuation funds, retirement savings account providers, unclaimed salaries and wages and monies owed by legal practitioners and real estate agents.
- Family Refunds is experienced at finding unclaimed money held by Australian government institutions.
Unclaimed Refund Costs
- Family Refunds charges NO upfront fees or costs for the claim process.
- Upon Refund of the funds a small percentage is charged on completion, but ONLY upon Refund.
- If we cannot recover your funds for what ever reason, our time and effort administrating the Refund process costs you NOTHING! – This means you have NOTHING to lose and EVERYTHING to gain!
- Our staff do all the administration, completion of due diligence and the official lodgment – we ensure that you or your organization is refunded as quickly as possible despite a reasonably complex process.
- We can go to some lengths to procure your refund and therefore feel very rewarded when you finally receive your lost funds.
What We Need To Start Your Claim:We require at least 100 points of ID to first verify a claim to lost funds
Why Have We Contacted You About Unclaimed Funds?
As refund consultants, we take it upon ourselves to reach out, assist and work with people with lost money owing to them.
We have reached out to you because we believe you may have lost funds owing to you.
In most cases, people are unaware that these funds are waiting to be claimed.
Often it is a nice surprise for people to find out that money could be owing to them without their knowledge.
Our Process To Get Your Unclaimed Funds
1: Find & Identify Owners
We make it our responsibility to track down the owners of lost money. We may re-quire extra information to ensure we identify you correctly.
2: Sign Authority to Release
Once we have ensured we have the right person we are then ready to proceed with the claim. all you need to do is sign an authority to release and we’re ready to go.
3: Recover Your Money
We work hard to recover your lost funds; where ever they may be, in their entirety in the most efficient way possible.
4: Return It To You
Once we have recovered your lost funds, we then debit the amount into your elected bank account.
5: Take Our Fee
Our fees are very reasonable and highly competitive. If you would like to know more please contact us.
How Do Australians Misplace Millions Of Dollars Of Unclaimed Funds Every Year?
- Many people move away from home and make the decision to live overseas.
- If you for some reason you forget about early life investments and do not leave a change of address.
- Then your money will end up in the unclaimed funds.
Forgotten Investment Fund
- I know this is hard to believe but, people forget about their own investments all the time.
- It is very common for some people to loose track of things like the purchase of shares in their later years.
- Most young students when they are starting off in life tend to rent a unit or home and this sometimes involves a bond.
- This is more common then you think, You decide to settle down and purchase a home of your own and leave your bond behind.
- Some people have long lost relatives that have left them money to their estate in their will.
- It is common that many relatives are hard to track down and do not know that they were left anything.
- Unclaimed or undelivered tax refunds can build to large amounts of money if people dont realise that they are entitled to it or need to file a tax return.
- This is more common then you think.
- Unclaimed wages, pension money or life insurance funds are sometimes not paid or for some reason your contact details are not correct.
- Past or current employers at times happen to overlook wages and hours you have worked.
Depending on what authority holds the funds, after a certain period the unclaimed funds will become Government Revenue.
Who Keeps Us Up To Date?
What Laws Do We Have To Abide By?
There are many laws in place that protect you as a consumer and your lost money.
It is an offence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to give false or misleading information or documentation.
This means that we are bound by law to ensure that we undertake correct procedures.
It also means that we are bound by law to promptly refund your funds into your preferred bank account or by cheque.
How Do We Stay Up To Date?
We are trained through Create Australia, they serve as a third party validating our claim as a refund consulting agent.
We are frequently updated with industry information which keeps our knowledge and training relevant so you can be sure you are putting your trust in the hands of up-to-date industry experts.
Would you like to speak to one of us over the phone? Just submit your details and we’ll be in touch shortly. You can also email us if you would prefer.