Quick check could land Australians share of $2.7 billion of unclaimed money

A simple and free online check could score Australians a share of the $2.7 billion cash mountain waiting to be scooped up.

The huge amount is an accumulation of money people have failed to collect from forgotten banks accounts, lost shares and insurance policies.

The biggest single amount yet to be pocketed is about $1.3 million, and in some cases cash has gone unclaimed for decades.

The money is held by the Australian Securities and Investments Commission (ASIC) when insurers, companies and banks cannot reach the rightful recipient after seven years.

“Unclaimed money typically arises when people lose contact with financial institutions or investment companies after moving house, changing their name, or simply forgetting about an account over time,” ASIC said.

How to check if you have money waiting

The process is both quick and simple, with Moneysmart’s unclaimed money page offering a search function where you can punch in your name.

If there is a match, an amount will be shown, as well as where it is coming from.

“The tool provides details and a transaction number needed to make a claim,” ASIC said.

“The search and claims process is completely free, and people do not need to use private claiming services that charge a fee.”

Amid soaring inflation and cost-of-living pressures, visits to the site soared 74 per cent in March compared to the same month in 2025.

But many more may be unaware they have money waiting to be delivered to them.

How to claim your cash

If your search returns a positive result, proof of identity, documents linking the person to the name and address on the record, and the transaction number will be needed to make a claim.

“With no deadline and no cost to search, checking for unclaimed money is a quick and simple step that could return funds people didn’t realise they had,” ASIC said.

“Anyone who has previously held a bank account, shares or insurance policy, or has moved house or changed name, is encouraged to do a quick search using the Moneysmart tool.”

ASIC said it is worth checking other sources too, including the Australian Tax Office for lost superannuation and state government websites for deceased estates, lost share dividends, salaries and wages, over-payments and more.