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Unclaimed money

When money remains in a bank account for more than 7 years without being transacted upon, it becomes Unclaimed Monies. 

Financial institutions are required to forward Unclaimed Monies to the Australian Securities and Investment Commission (ASIC). This money can be claimed back from ASIC by the owner of the funds through visiting your local branch and completing an Application to Claim Unclaimed Money form, which the branch will submit to ASIC on your behalf.

To prevent a bank account becoming Unclaimed Money, simply make a small deposit or withdrawal at least once every 7 years. If you move or change contact details, let us know so we can contact you when needed.

When making a claim for Unclaimed Money, the onus is on the bank to satisfy itself that the claimant is the owner of the account. For this reason, appropriate identification will be requested to confirm you are the rightful owner. Once a valid claim is received by ASIC, funds will usually be returned to the bank within 6 to 8 weeks.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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