Billions of dollars are currently sitting in Government Trust accounts awaiting the return to their rightful owners. Virtually all owners of this money are unaware that their money is even sitting there; consequently, it’s not missed with only 2% of people actually reclaiming their lost money.
How did it end up there?
Funds that lay dormant for 7 years are required by law to be transferred into Government Trust accounts if the owners cannot be contacted.
Cheques remain unrepresented if they cannot reach the person they are made out to. People move around a lot these days, changing providers, selling property, moving interstate and overseas for work and lifestyle changes and may not remember to update changes to addresses in a timely manner or at all.
Mail can be lost through oversight, theft, typographical input of addresses, name changes, illness and death.
Other lost money may include bequeaths, share dividends, bonds, matured insurance policies, unpaid wages and entitlements, council bonds, superannuation, refunds, and over-payments.
What happens to this money if it is not claimed?
Well, eventually if enough time passes without it being claimed, it will be taken up as Government consolidated revenue.
RefundWorks ( www.refundworks.com.au ) is a service dedicated to returning lost monies to its rightful owner(s).
RefundWorks is licenced by the government to undertake this work NSW Government Registration ID ▶ 166741465.
Company Details
- Founded
- -
- Address
- 53 Walker St, 703,level 7,australia
- Industry
- Financial Services
- NAICS
-
Finance and InsuranceMonetary Authorities-Central Bank
- Website
- http://www.refundworks.com.au
- Keywords
- North Sydney.
- HQ
- North Sydney, New South Wales
Refundworks Questions
Refundworks's website is http://www.refundworks.com.au
Refundworks's LinkedIn profile is https://au.linkedin.com/company/refundworks
Refundworks's industry is
Financial Services
Refundworks's top competitors are
Towards Work,
Kanga Potash,
Reclaim Fund Ltd,
Vanacore International,
Heka Global,
Egin,
Future Tense - Human Resource Solutions,
Oppscale Ai.
Refundworks's categories are Financial Services
Refundworks's founding year is 2021
