ANZ Bank holds unclaimed money when bank accounts remain inactive for seven years or more, excluding routine transactions like fee payments or earning interest. Per Australian Government Legislation, inactive accounts are closed, and ANZ notifies customers accordingly.
ANZ Bank Unclaimed Money
Balances exceeding $500 are transferred to the Australian Securities and Investments Commission (ASIC) as unclaimed funds. To reclaim this money, individuals must first search ASIC’s database through the MoneySmart website.
Upon confirmation, claimants need their unique Original Transaction Number (OTN) and should complete a Request for Refund of Unclaimed Monies Form. Providing two forms of identification, account ownership proof, and, for companies, director/partner details is necessary. Dealing with deceased estates also requires adhering to ANZ’s estate requirements before claiming unclaimed funds.