UNCLAIMED MONEY

What is Unclaimed Money?

Simply put, unclaimed moneys are moneys that are forgotten or neglected by their rightful owner and has been surrendered to the Malaysian Accountant General's account. The handling and management of unclaimed moneys are governed by law under the Unclaimed Money Act 1965 (Act 370)

What We Do?

Our service hassle free, risk free, and hands free meaning after you appoint us, we wil do ALL the work at our cost with NO retainers and NO deposits required. Our customers only pay after their unclaimed money has been recovered and deposited into their bank account. If after all our efforts, the unclaimed money remains unrecovered, there will be NO charge to the customer!

Our services

Provide a general summary of the services you provide, highlighting key features and benefits for potential clients.

Deposits

Refundable deposit are paid for a variety of reasons - utility deposits, local council deposits, rental deposits, telco deposits and so on. When these deposits are not claimed back within the given timeframe they will be sent to the Registrars of Unclaimed Money.

Shares and Dividends

When company dividends that are paid out could not reach the rightful recipient the amount will be sent to the Registrars of Unclaimed Money. In the case of mergers and acquisitions or privatizations of listed companies, a compulsory takeover of the shares of uncontactable shareholders will result in a large pool of unclaimed money that are sent to the Registrar of Unclaimed Money.

This can include proceed from uncollected insurance claims, premium over-payments or refunds, and matured life insurance policies where the funds are not claimed for more than 7 years after the maturity date.

Insurance Policies

Employee Provident Funds (EPF)

If a member reaches pension age and cannot be locate or contacted, the funds are declared unclaimed and the moneys sent to the Registrars of Unclaimed Money.

Uncredited Bankers Cheque

Uncredited bankers cheques become stale approximately 6 months from the date of issue. The applicant of the bankers cheques will be the rightful recipient of the unclaimed money.

A current or savings account is declared dormant if it has not been accessed for 7 years or more and will be close by the bank. The balance in the closed account will be submitted as unclaimed moneys to the Registrar of Unclaimed Moneys

Dormant Bank Account