Unclaimed money in the millions up for grabs: Are you losing out by not claiming your share?
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What would you do if you were suddenly told you were owed an extra few hundred—even thousand—dollars? You would probably say it’s all just a daydream.
But for thousands of Queenslanders, this dream could be a reality. That is if they just check the state Public Trustee’s Unclaimed Money Register.
The Queensland Public Trustee has revealed that over $200 million in unclaimed funds are up for grabs.
But what is unclaimed money, you ask? In a nutshell, it’s money owed to a person, company or organisation by businesses, other organisations or deceased estate that can't be located after a certain time. For example, this affects customers, clients, or inheritors who changed their details—bank accounts, addresses, and names through marriage.
By law, the unclaimed funds must be deposited with the Public Trustee.
The Public Trustee revealed that they recently received a nearly $3 million lodgement.
'(There are) hundreds, thousands, and in some cases, hundreds of thousands waiting for them,' said Samay Zhouand, CEO of the Queensland Public Trustee.
‘Last year, we connected 2,000 Queenslanders to $3.3 million, and this year, we want Queenslanders to beat that,’ Zhouand added.
The unclaimed money can come from different sources. According to their website, the Public Trustee holds money from:
On the other hand, they do not hold money from:
The largest funds are those from deceased estates, with a single amount of $1.3 million waiting to be claimed.
There are some specific amounts currently lodged, including $1274 from a Flight Centre store, $335 from Cash Converters, $199 from Harvey Norman, $672 from Origin Energy, $360 from Linkt Brisbane and $294 from Unity Water.
‘In recent years, our largest amount of unclaimed money that we've given to a lucky Queenslander is three-quarters of a million dollars,’ Zhouand said.
To see if you have unclaimed money with them, visit the government website here. Don’t worry, members, there are no fees involved in this!
Previously, we shared an article about the $1.5 billion unclaimed funds held by the Australian government. The money came from dormant bank accounts, shares, investments, and life insurance policies. You can read more about that story here.
What do you think of this story, members? Share your thoughts in the comments below!
But for thousands of Queenslanders, this dream could be a reality. That is if they just check the state Public Trustee’s Unclaimed Money Register.
The Queensland Public Trustee has revealed that over $200 million in unclaimed funds are up for grabs.
The Queensland Public Trustee has revealed that over $200 million in unclaimed funds are up for grabs. Credit: Atstock Productions/Shutterstock
But what is unclaimed money, you ask? In a nutshell, it’s money owed to a person, company or organisation by businesses, other organisations or deceased estate that can't be located after a certain time. For example, this affects customers, clients, or inheritors who changed their details—bank accounts, addresses, and names through marriage.
By law, the unclaimed funds must be deposited with the Public Trustee.
The Public Trustee revealed that they recently received a nearly $3 million lodgement.
'(There are) hundreds, thousands, and in some cases, hundreds of thousands waiting for them,' said Samay Zhouand, CEO of the Queensland Public Trustee.
‘Last year, we connected 2,000 Queenslanders to $3.3 million, and this year, we want Queenslanders to beat that,’ Zhouand added.
The unclaimed money can come from different sources. According to their website, the Public Trustee holds money from:
- Queensland Government departments and agencies (including hospitals, correctional centres, statutory authorities, etc.)
- accountable persons as defined under the Public Trustee Act 1978 (people and companies who carry on business in Queensland)
- solicitors, real estate agents, accountants, nursing homes, etc. who operate in Queensland
- unclaimed wages or salaries for employees engaged under a Queensland State Award.
On the other hand, they do not hold money from:
- Dormant bank, building society or credit union accounts
- Life insurance money
- Amounts payable to dissenting shareholders
- Superannuation
- Rental bond money
The largest funds are those from deceased estates, with a single amount of $1.3 million waiting to be claimed.
There are some specific amounts currently lodged, including $1274 from a Flight Centre store, $335 from Cash Converters, $199 from Harvey Norman, $672 from Origin Energy, $360 from Linkt Brisbane and $294 from Unity Water.
‘In recent years, our largest amount of unclaimed money that we've given to a lucky Queenslander is three-quarters of a million dollars,’ Zhouand said.
To see if you have unclaimed money with them, visit the government website here. Don’t worry, members, there are no fees involved in this!
Previously, we shared an article about the $1.5 billion unclaimed funds held by the Australian government. The money came from dormant bank accounts, shares, investments, and life insurance policies. You can read more about that story here.
What do you think of this story, members? Share your thoughts in the comments below!
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