The unclaimed money is held by the NSW Office of State Revenue (OSR) and ranges from $20 to $1.06 million. Funds come from deceased estates, dividends, bonds, refunds, overpayments or other sources.
The money is sent to OSR by private enterprises, government agencies, local councils, and State Trustees because they have not been able to locate and return the money to the owners.
In the past 12 months OSR has paid 9,189 claims worth almost $20 million.
Minister for Finance, Services and Property Dominic Perrottet encouraged families and businesses to check the OSR website to see if they are eligible.
“OSR’s website is easy to navigate, and the unclaimed money search facility is free, so it’s well worth having a look – if it’s your money, you’re entitled to claim it,” Mr Perrottet said.
Searching through the OSR website shows the name of the unclaimed money owner, the type and source of the funds and, if available, the owner’s last known address. Owners must prove their identity and that they are entitled to the money before it is released.