Millions Sitting Unclaimed as NSW Residents Urged to Check for Hidden Cash
Right now, a huge amount of money is quietly sitting with Revenue NSW, and there’s a real chance some of it could belong to everyday people who have no idea it’s there. Around $300 million is currently held in an unclaimed money pool, made up of things like uncashed cheques, refunds, dividends, overpayments, and other payments that were never successfully returned to their rightful owners.
This money often goes unclaimed for very ordinary reasons. People move house and forget to update their details. Names change after marriage. Important paperwork gets misplaced. In some cases, families are simply unaware that funds exist for relatives who have passed away. Over time, these small disconnects add up, and the money ends up being transferred to Revenue NSW for safekeeping until it can be claimed.
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What’s surprising is just how much of this money is concentrated in certain areas. Sydney’s city and eastern suburbs top the list, with more than $91 million waiting to be claimed. Western Sydney follows closely, with about $77 million unclaimed. In regional areas, residents on the Central Coast and in the Hunter region are collectively owed around $22 million. These figures highlight just how widespread the issue is.
It’s not only NSW residents who could be eligible. People living in other states who have done business in New South Wales may also be owed money. In fact, nearly $395 million more is being held for individuals registered at interstate addresses. So even if someone moved away years ago, they may still have a claim waiting.
The NSW government says efforts are being stepped up to return this money to families. Last financial year alone, more than $21 million was successfully returned to rightful owners. New legislative changes are also being introduced to make the process quicker and simpler. One major reform reduces the amount of time businesses can hold onto unclaimed money before handing it over, cutting the period from six years down to just two. The aim is to get funds back to people much sooner.
Checking if you’re owed money is fairly straightforward. Names can be searched on the Revenue NSW unclaimed money register, and a claim can be lodged online. Proof of identity is required, along with documents that show a clear connection to the money, such as old bills, bank statements, or lease agreements. Once submitted, claims are usually verified within about 28 days.
In a time when the cost of living keeps rising, finding unexpected money could make a real difference. For many, it might feel like a small financial win hiding in plain sight, just waiting to be claimed.
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