News

Millions in missing cash could be waiting for you

Barry Leddicoat

KEEPING your head above water financially is becoming more difficult by the day.

One way to ensure your financial health is as good as it can be, is to make sure the money you have isn't lost in some way.

This is where the Australian Securities and Investment Commission (ASIC) comes in with its 'MoneySmart' website which now allows people to find money they didn't know they had or had misplaced without realising.

ASIC has a total of $2,896,477.35 in unclaimed funds, divided into 6951 portions, belonging to Tweed residents.

The largest single parcel is on behalf of a Tweed Heads' individual who has misplaced $53,437 and change.

There are 10 individual major stockpiles stashed at a variety of locations including an amount of $18,275.41 held on behalf of an individual located in Murwillumbah.

ASIC senior executive Robert Drake said the commission held a total of 1 million different parcels of money on behalf of Australians and sent out 2,500 letters each month to try and reunite citizens with their lost funds.

"The website attracts about 250,000 visitors each year and contains information which is on the public record and is available to all," Mr Drake said.

Some of the data on the MoneySmart website shows a group titled Tweed Shire Arts has $7, 877, 56 waiting to be claimed, South Tweed Heads Rugby League Football has three accounts totalling about $2,000 and the Tweed Byron Group 18 Assn has $14,340,90 sitting in an account.

Mr Drake said in certain circumstances losing money this way could be avoided by keeping detailed records and safeguarding the associated paperwork.

New treasurers of organisations and executors of deceased estates should make sure they were familiar with all accounts and amounts held.

People should also ensure they contacted all relevant parties and especially life insurance companies, banks and stock brokers, when moving.

The ASIC data base holds records of a total of $677 million of unclaimed money which is $40 million more than last year.

Last year, ASIC helped Australians recover $56 million however, 33,000 individual parcels were added to the list and are waiting for owners to collect the associated funds.

There were a number of circumstances which could lead to people misplacing funds including if you:

moved without leaving a forwarding address

haven't made a transaction on your cheque of savings account for over seven years

stopped making payments on a life insurance policy

have noticed that regular dividend or interest cheques have stopped coming

were the executor of a deceased estate

If you want to find out if you have any unclaimed funds stuck in an account somewhere, you can go to ASIC's website at moneysmart.com.au and follow some simple instructions to find your missing pot of gold.

You can even find money unclaimed by members of your family or friends and surprise them with an unexpected windfall.

Topics:  red lights, traffic



Aussies dominate doubles

TENNIS' FUTURE: Australian Lizette Cabrera hits a backhand shot in a tightly-fought doubles match with Olivia Tjandramulia against Monique Adamczak and Olivia Rogowska at the Tweed Tennis International at Arkinstall Park. Adamczak and Rogowska advanced 6-7 (6) 7-5 (10-5).

Tweed Coast Tennis International heating up.

Casuarina sets the benchmark in Tweed market

Our property market is as strong as it's been since the crisis

Local Partners

'Highly unlikely' Brad Pitt will face prosecution

It is highly unlikely that Brad Pitt will be prosecuted

WATCH: Justin Bieber grabbed in Germany

A video has emerged of singer Justin Bieber being attacked

Why The Wrong Girl is right for Jessica Marais

Jessica Marais and Ian Meadows in a scene from the TV series The Wrong Girl.

ACTOR makes the sometimes awkward character her own in new comedy.

What's on the small screen this week

Jessica Marais in a scene from the TV series The Wrong Girl.

A NEW romantic comedy debuts while footy codes ramp up for finals.

Airbourne talk drop bears, beer and taxes

Airbourne have a new album coming out and a new tour on the way.  Photo Contributed

Airbourne release album for the aussie battler

Pippa Middleton had 3000 private photos stolen

Author Pippa Middleton

Author's account hacked to access 3000 private photos

Casuarina sets the benchmark in Tweed market

Our property market is as strong as it's been since the crisis

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Couple build their own 'tiny house' for $45k

Holly Bowen and Oli Bucher built their "tiny house" themselves, only hiring a plumber and an electrician. Photo/supplied

The house, which is built on a trailer and can be towed.

Sunshine Beach property breaks real estate record

The property overlooks Sunshine Beach, as the backyard lawn meets the sand.

Sunshine Beach mansion sale smashes real estate record

SOLD: Historic hotel finds new owner

Post Office Hotel Grafton

Photo Adam Hourigan / The Daily Examiner

Pub in new hands and heading in a brand new direction

Peppers Airlie Beach put on the market

ON THE MARKET: Peppers Airlie Beach is being for recievership sale by CBRE Hotels and PRD Nationwide Airlie Beach.

Peppers Airlie Beach is being offered for sale.