Claim your money while it's still there

THE Federal Government has urged all Australians to check their entitlement to the $677 million sitting unused in old bank accounts - or it will be taken by the Australian Securities and Investments Commission.

While the ASIC helped return more than $3 million in unclaimed money last year, the government has warned people to claim it while it is still there.

Parliamentary secretary to the treasurer Bernie Ripoll said people could log on to moneysmart.gov.au to search for their unclaimed money.

But the call for people to claim the money comes just months after the government made changes to federal laws to remove unclaimed money from superannuation accounts.

That move could help bolster the government's finances by more than $600 million, if unclaimed superannuation was not claimed by May 31 this year.


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