Lost Money Recovery Service

Why have I been contacted about lost finances?

Our business Lost Money Recovery Service is all about researching unclaimed or lost funds and recovering them on behalf of the rightful owner. As Unclaimed Money Specialists, we proactively reach out to individuals to assist them in reclaiming lost funds.

We’ve contacted you because we believe you may have unclaimed money. Many people are unaware of funds that are rightfully theirs, often making it a pleasant surprise to discover money they didn’t know they were owed.

What is lost or unclaimed money?

People and businesses can lose track of their money due to changes such as a new address, name, or relocation. When this happens, financial institutions may classify the funds as ‘lost’ and transfer them to a government trust account.

If left unclaimed, the money eventually becomes government revenue. Each state in Australia has its own laws and agencies for managing unclaimed funds, making the claiming process complex. To avoid delays, it’s crucial to ensure the claim is accurate from the beginning.

Types of money that is lost and waiting to be claimed:

$ 651 Million

$ 1.2 Billion

Bank Accounts

$ 84 Million

Life Insurance

What is the process for returning my money?

As Unclaimed Money Specialists, we focus on locating unclaimed funds for individuals and businesses in Australia who have lost track of their money.

We begin by confirming the identity of the rightful owner(s) and then handle the complete claims process, including all documentation, preparation and submission on their behalf.

How does it work?

1. The Approval process

To ensure we have the correct organisation or individual, we ask that you sign “The Authority to Release”. 100 points Certified ID will also be required.

2. Your lost money is recovered

The Unclaimed Money Specialist case manager will meticulously prepare your case prior to submission, ensuring a streamlined and successful outcome. They will act wholly on your behalf, communicating and updating you regularly.

3. Funds are returned to you

Funds are either deposited by Direct Credit into your bank account OR by Cheque. Only on successful recovery of your funds is payment due to Lost Money Recovery Service. With no upfront or hidden fees there is NO RISK to you.

What occurs if you don’t claim the funds?

In simple terms, unclaimed funds are often deposited into a government trust account and left unclaimed. After a certain period, which varies by authority, the money is transferred to the government’s consolidated revenue fund. Essentially, the government takes ownership of the funds, making them no longer accessible to the original owner.

WHO WE HELP

Individuals

Corporate & Business

Government & Charities

ARE WE LICENCED CONSULTANTS?

We’re pleased to share that our team is highly skilled, extensively trained, and possesses valid licenses from the leading authority in the Unclaimed Money Recovery sector.

How do so many millions of dollars go missing each year?

Overseas Move

Perhaps you forgot about a deposit? (It’s more common than you think.) Many people move overseas and forget to notify or change their details with their service providers.

Oversight

People forget about their investments all the time. Maybe you invested in some shares when you were 20 and forgot all about them; this is quite common.

Moved House

Perhaps you moved house and may have forgotten to update your new contact details to the relevant organisation and they were unable to contact you or your new address may not have been updated correctly.

WHAT KEEPS US IN CHECK!

What laws do you have to abide by?

Consumer protection laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, mandate that we follow correct procedures and provide accurate information. We are legally required to promptly refund your funds to your preferred bank account or by cheque.

How do we stay up to date?

We are trained through Create; they serve as a third party validating our claim as refund professionals. We are frequently updated with industry information which keeps our knowledge and training relevant so you can be sure you are putting your trust in the hands of up-to-date industry experts.

Membership Licence No. 437894 28269

The Unclaimed Money Association is the peak body for the Unclaimed Money Industry. The Unclaimed Money Association provides the industry, agents, government and the public with proper representation, information and education. The Unclaimed Money Association provides industry guidelines for service providers to best practice in the unclaimed money industry.

Have Questions ?

Check our FAQ section below to see if your question has already been answered by clients like you.

What is lost money?

Unclaimed Money or lost money is a term used to describe funds that have been unable to be returned to the entity they belong to. It’s easy to end up with lost funds, even the best kept records can sometimes miss something. Have you ever moved house or even opened up a new bank account? Chances are you could have money owing to you.

Our business is all about researching unclaimed or lost funds and recovering them on behalf of the rightful owner. As Refund Specialists, we proactively reach out to individuals to assist them in reclaiming lost funds.

Through the course of research for current clients, we find other unallocated funds. I f we have made contact, then we believe you are the most likely owner of these funds.

Our research involves using a number of openly available platforms and databases (in Australia and Internationally) AND we must comply with Australian and International Laws which protect your privacy and you as a consumer. So YES, every step is completed both legally and ethically.

Where does the money go?

Once the firm you were dealing with has made a reasonable effort to reunite the entity with their lost funds they are then expected to transfer those funds to the Government where it waits until the entity steps forward to redeem it. The Australia & New Zealand Government is currently sitting on almost $10 BILLION worth of lost money!

How can I prove the unclaimed funds are legally mine?

The various holding bodies have different criteria they request for proof of ownership. Generally, you will be required to provide certified copies of documents to satisfy at least two criteria: a link to the last known postal address as proof of your ownership of the unclaimed funds, and proof of your identity. Examples of suitable documentation include: Driver’s Licence, Rates Notice, utilities bill, Birth Certificate and/or Passport. As each case is uniquely individual, we will assess and provide you with details of document requirements. If the unclaimed funds belong to a deceased estate, a certified copy of the Grant of Probate or Letters of Administration must also be supplied.

How do we locate you?

It’s our job to track down people with money owing to them. We use a range of methods to get in contact with you; all of which are legal and ethical. We respect your privacy and only use the details given to us by Government entities in attempts to reunite you with your lost money. We believe people should be given the chance to claim it back.

How long will the process to claim my money actually take?

It is difficult to put an exact time frame on the claim process as we are dealing with busy Government departments, and as such, we often have to wait days for a reply.

For funds located in Australia, the process normally takes between four to six weeks and for overseas funds it can be a few months. Noting this is upon receipt of all required documentation. Each holding department has different processing times, however your case manager will routinely follow up with the relevant department and keep you totally informed.

Our aim is for you to receive your funds in minimal time. As soon as we hear back from them, we get in touch with you as soon as possible to let you know.

What if I don’t want to claim it?

Not everyone wants to claim their lost funds for what ever reason. We offer a service which involves donating your funds to a charity of your choice. Not only is this a feel good exercise for us, but it is often quite satisfying for our clients, knowing that the funds they didn’t want went to a good cause. If you choose to take no action, the funds will remain unclaimed and eventually be retained by the government.

How much is this going to cost me?

Our service does not involve any upfront fees or payments so you don’t have to worry about having to make payments you can’t afford. Our fee will vary depending on the amount that needs refunding. But please be aware that you will not have to pay a cent until your money is fully refunded. We don’t get paid unless you do, this minimises your risk and ensures you aren’t hit with fees that you can not afford.

Can I do it myself?

If you wish to proceed with the claims process yourself then you are welcome to, however, we cannot divulge our information to you due to Privacy. As part of our due diligence we must ensure we are communicating with right person and have verified your identity and ownership.

The process of recovering funds is intricate, and, as we have established connections within relevant departments plus streamlined claims processes, most will leave the footwork to us (In addition, payment to us is ONLY if we are successful).

LMRS fee for service is 10% of the recovered amount and is payable only when you have received your funds. There is no risk to you engaging in the services of LMRS. It is better to get it done right with the professional assistance of our experienced refund consultants..

Why am I being asked for more information?

Government departments often require more identification once the claim has been submitted. Please understand that this is normal and that we endeavour to ensure that your claim is processed as swiftly as possible while adhering to Government department specifications and requirements.

What is a Certified Copy and why is it required?

A certified copy is a photocopy of an original document that has been signed as a “true and correct copy” by a Justice of the Peace or similar. Certified copies are required to ensure that all documents submitted to support a claim are authentic.

CONTACT US

Lost Money Recovery Service

1300 726 688

michelle@lostmoneyrecoveryservice.com.au

Useful Links

Unclaimed Money Association

Ctreate.Business