What is unclaimed money?
If you haven’t made any deposits or withdrawals (excluding bank charges or interest paid) for seven years on a bank account, we will be legally required to close your account. Balances in accounts with more than $500 are sent to the Australian Securities and Investments Commission (ASIC). All banks and financial institutions in Australia are required to do this.
How do I know if I have unclaimed money?
- We will notify you (based on the current address information you have provided to us) that your account will be closed if you do not take steps to reactivate the account.
- You can also use ASIC’s 'Unclaimed Monies' search tool to check if you have any unclaimed funds.
How to make a claim to recover unclaimed money
If you believe Suncorp Bank has transferred the balance of your account to ASIC as unclaimed monies, we can help you to make a claim to recover these funds. This process can take up to three months. We will also assist you with claims for balances under $500 but we retain these within Suncorp Bank. To reclaim your funds:
- First, use ASIC’s 'Unclaimed Monies' search tool to confirm if they are holding any of your funds; and
- Second, simply visit your nearest Suncorp Bank branch. You will also need to bring sufficient documentation for us to confirm your identity and account ownership.
Proving your identity:
For each of the account holders, a certified photocopy of one Primary Photographic Document and one Primary Non Photographic document of the original documents for identification, and Proof of Address, provided by the customer(s) must be attached.
Note: See Authorised Representatives for Certified Copies to find a list of professions that can certify documents.
Example of Primary Photographic Document:
- Current Drivers Licence
- Current Australian Passport
- Current Proof of Age Card
- Current International Passport or Travel Document
- National Identity Card
Example of Primary Non Photographic Document:
- Australian Birth Certificate or Birth Extract
- Current Centrelink Pension Card
- Utilities Notice issued within last 3 months
- Current Medicare Card
- Current Australian Financial Institution Card
- Current Tertiary Education Identity Card
- Current Government Issued Identity Card
Example of Proof of Address as per the account:
- Rates Notice
- Telephone / Electricity Bill
- Electoral Roll confirmation
- Rental Agreement
- Taxation Records
- Queensland Transport confirmation
A certified copy of a document showing proof of account ownership relating to unclaimed monies e.g. passbook or bank statement can be provided where customers are unable to provide Proof of Address as per above.
Please note: If you are claiming for a deregistered company, visit ASIC’s website.