Lost funds – how did this happen…
FAQs to help explain

Why was I contacted by a Money Recovery Agent and didn’t know about my lost funds myself?

This is our business – researching unclaimed or lost funds and providing the service to recover such funds on behalf of their rightful owners. The research is performed on a number of holding authority databases and we comply with strict privacy laws to ensure all steps are completed legally and ethically.

There are so many people due to varying circumstances who have misplaced or forgotten about funds from either bank accounts, insurances, investments, superannuation, royalties to name some. The reason you don’t receive funds owed to could simply be you have:

  • changed address
  • changed your name
  • lost paper work, or
  • or the company / authority had your details incorrect at the start.

Companies, Government Departments, Banks etc, do endeavour to make a payment but this person or company cannot be found or a cheque is not presented for some reason therefore such funds become classified as unclaimed. By law, these funds are to be held in trust until the funds are claimed. Privacy restrictions prevent us from disclosing the full details of the funds until we can confirm that you are the rightful owner.

Can I complete the claim myself?
You are more than welcome to proceed with the claim yourself. We are just not able to disclose any information pertaining to the unclaimed funds due to Privacy. It is imperative that we ensure we are communicating to the correct rightful owner of the funds with verification of your identity and ownership. The recovery of claims process can be complex and time consuming – therefore we offer the service to complete this step on your behalf. Please note – there is no financial risk to you in employing our service – only once the claim is successful is our service fee applied.
How to prove the funds do belong to you?
Each holding authority set different criteria for proof of ownership, such as a Passport, Driver’s Licence, Birth Certificate, Utility Notices (e.g. water account). You will be guided on the type and amount of documentation required to satisfy the holding authorities requirements. You may be required to provide Certified Copies of your identification / documentation. This is simply a photocopy of an original document that has been signed by a Justice of the Peace as a true and correct copy.
The reason you are asked to sign an Authority to Act document.

This provides legal permission to act on your behalf to recover your unclaimed funds. 

How is my personal information protected?

Personal information is only obtained for the period of the claim. Please review our Privacy Policy. We are committed to protecting your privacy. We take necessary steps to ensure that the personal information that we hold about you is kept confidential and secure.

How long is the claim process, and then for the funds to appear in my account?
The claim process is dependent on how quickly you can obtain and forward the required documentation to us. When all documentation is in order and submitted, funds generally take between 4 to 6 weeks. Each holding authority do have different processing times. Please feel reassured we always follow up with the relevant authorities and keep you informed throughout the whole process. It is also in our interest to ensure your funds are received in the most efficient time possible.
What happens if my claim is unsuccessful?

There is no service fee payable if your claim is unsuccessful. We are paid on results so there is nothing to lose. We do pride ourselves in our service to obtain a successful outcome.

If you do not wish to proceed with reclaiming your fund, what happens?

The funds will remain unclaimed and may be retained by the government. The funds remain available to claim even though they have been transferred to a Consolidated Revenue Fund.