Unclaimed money: How to unlock thousands in hidden cash now
Australians are sitting on billions of dollars in unclaimed money, from forgotten bank accounts and unpaid dividends to life insurance payouts and deceased estates.
In total, more than $2.6 billion is currently held by the federal government through the Australian Securities and Investments Commission (ASIC), with billions more sitting in state government accounts waiting to be claimed.
Five years ago, that figure was just $1.1 billion, a sharp increase that shows how quickly forgotten money is piling up.
NSW finance minister Courtney Houssos says much of the money belongs to everyday Australians who may have no idea it exists.
"This is money that belongs to residents of New South Wales, and we want to get that money back to you," she said.
"It ranges from a few dollars to much larger amounts, but we encourage you to jump online and check it out. This might be that little bonanza that you are waiting for."
How money goes unclaimed
Funds are transferred to ASIC when accounts or policies sit untouched for a long period. This often happens when people move, change banks, go overseas or forget the accounts exist.
Bank accounts are flagged as unclaimed if there have been no deposits or withdrawals for seven years. The seven years rule applies to life insurance, too, if the money isn't handed over after the policy matures.
The account balance is transferred to the Commonwealth's Consolidated Revenue Fund, where it can be claimed at any time. Since 2013, interest has been payable on these amounts.
How to check if you have unclaimed funds
Searching for unclaimed funds is easy.
On a national level, ASIC's Moneysmart website has a free unclaimed money search tool. Enter your name and, if a match appears, follow the instructions to lodge a claim.
You will need to provide a copy of an official notice addressed to you at the postal address that appears on the unclaimed money record.
This can be a dividend notice, bank statement, utility bill, council rates notice or a birth, marriage or death certificate.
A similar process happens at state level, where it's held by different government departments outlined below.
New South Wales
Revenue NSW held more than $637.6 million in unclaimed money as of June 30, 2025.
In 2024-25, it returned a record $21.29 million to rightful owners.
There are more than 800,000 individual unclaimed payments, with the largest amounts concentrated in Sydney's CBD, eastern suburbs and Western Sydney.
Queensland
Unclaimed money in Queensland is managed by the Queensland Public Trustee.
By June 30 2025, it held $104.2 million in unclaimed funds, up from $90 million the year before.
During the year, $8.8 million was paid out across more than 3,400 claims, helped by a new online application process.
Victoria
State Revenue Office Victoria recorded $238.8 million in unclaimed money receipts in 2024-25.
Refunds rose sharply to $18.6 million, up from $11.5 million the previous year.
Australian Capital Territory
The Public Trustee and Guardian administers unclaimed money in the ACT.
As of 2025, the territory held $57 million, with most claims processed within 60 days once documentation is complete.
Western Australia
In WA, unclaimed money is managed by the Department of Treasury.
There is around $190 million sitting on the state's register, up 26% since 2023 and includes 1.3 million records.
South Australia
South Australia's Department of Treasury and Finance maintains the state's unclaimed money database.
From July 1, 2025, the statutory holding period shortened from six years to two years, meaning money will be transferred to the register more quickly from 2026.
Tasmania
Tasmania's Department of Treasury and Finance reported $65.2 million in unclaimed money in 2025, up from $60.7 million a year earlier.
Northern Territory
Unclaimed money in the NT is handled by the Territory Revenue Office, alongside the Department of Treasury and the Public Trustee.
Scam warning
You don't need to pay anyone to find or claim unclaimed money. Government searches are free, and ASIC does not charge fees.
If a private company contacts you offering to recover funds for a cut, that's a red flag.
Check the official registers yourself instead.
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