$1 billion of investments up for grabs – could it be yours?

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Whether it is moving often, heading overseas or simply forgetting, Australians are losing track of their money and investments, with more than $600 million sitting in unclaimed bank accounts and a staggering $450 million in shares, ready to be claimed.

It’s a staggering amount of wealth that could be checked easily with a quick search on the Governments Unclaimed Money website and it only takes a minute.

Here is what is up for grabs.

Money waiting to be claimed

  • NSW: $380m ($319m Sydney, $14m Hunter, $1m Illawarra)
  • VIC: $197m ($170m Melbourne, $5m Barwon, $4m Goulburn Valley)
  • QLD: $112m ($58m Brisbane, $17m Gold Coast, $7m Far North)
  • WA:  $75m ($56m Perth, $4m South West, $2m South East)
  • ACT: $15m
  • SA: $35m ($28m Adelaide, $1m South East, $1m Outer Adelaide)
  • TAS: $9m ($6m Hobart, $2m Northern Tasmania)
  • NT: $8m ($4.5m Darwin)

 

Types of lost money

  • Bank accounts – $617 million
  • Shares – $451 million
  • Life insurance – $81 million

Search on ASIC’s MoneySmart to find unclaimed money.

 

Source:ASIC

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