The Government May Be Holding Your Money — Search Australia’s Unclaimed Funds for Free
ASIC and state revenue offices across Australia are holding over
$3.8 billion in unclaimed money belonging to everyday Australians.
Search your name for free in under 2 minutes — no account or registration needed.
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$3.8 Billion in Forgotten Money: Could Any of It Be Yours?
Millions of Australians have lost track of old bank accounts, shares, life insurance proceeds, and term deposits — often after moving house, changing jobs, or simply losing touch with old financial institutions. When a financial company can no longer contact the owner of an account, the unclaimed money is transferred to the government, where it waits — indefinitely — for the rightful owner to come forward and claim it.
How unclaimed money works in Australia
Under the Corporations Act 2001, banks, building societies, insurers, and investment managers must transfer unclaimed money to ASIC (the Australian Securities and Investments Commission) after balances have been inactive for seven years. ASIC holds these funds and publishes a free searchable database at moneysmart.gov.au/unclaimed-money. State and territory revenue offices operate separate registries for unclaimed land sale proceeds, wages, and trust monies. There is no deadline to claim and the full amount is always returned to the rightful owner — no fees, no deductions.
Who can search — and how
Any Australian resident or former resident can search the ASIC database for free using their full name. If you find a match, you submit a claim directly to ASIC online through MoneySmart — no lawyer or agent required. For lost superannuation, the ATO’s myGov portal shows all super accounts linked to your Tax File Number, including any inactive or lost funds held by the ATO itself. Checking both ASIC and myGov covers the vast majority of unclaimed financial assets in Australia.
Avoid paid tracing services
A number of private “asset recovery” firms charge fees or commissions to search for unclaimed money on your behalf. There is no reason to pay. ASIC’s MoneySmart search is free, takes under two minutes, and is the same database these firms use. The ATO’s lost super tool via myGov is also completely free. Always search the official databases yourself before signing any agreement with a tracing company — you may find your money instantly at no cost.
Frequently Asked Questions
1. Can I claim on behalf of a deceased relative?
Yes. ASIC accepts claims from executors of estates and legal personal representatives. You will need to provide a certified copy of the death certificate, proof of your authority to act (such as probate or letters of administration), and your own photo ID when submitting the claim online.
2. Is the ASIC MoneySmart search really free?
Completely free. ASIC charges nothing to search or claim unclaimed money through MoneySmart. The ATO’s lost super tool via myGov is also free. No registration fee, no commission, and no percentage of recovered funds is ever charged by the government.
3. How long does it take to receive the money?
ASIC aims to process straightforward online claims within 28 days of receiving all required documentation. Claims that require additional verification may take longer. Super claims via the ATO are generally processed within 28 days as well. State revenue office timelines vary but are typically four to eight weeks.