1 out of 6 people have unclaimed money!
We help individuals and companies to identify and recover their unclaimed money
What We Do
Our service is hassle free, risk free, and hands free - meaning after you appoint us, we will 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!
In all cases, a full report will be provided containing the known details of the source and nature of the asset.
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 Moneys Act 1965 (Act 370).
There are many different types of unclaimed money, the most common ones are as follows:
Uncredited Bankers' Cheques
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.
Insurance Policies
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.
Deposits
Refundable deposits are paid for a variety of reasons - utility deposits, local council deposits, tender deposits, student 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.
Dormant Bank Accounts
A current or savings account is declared dormant if it has not been accessed for 7 years or more and will be closed by the bank. The balance in the closed account will be submitted as unclaimed moneys to the Registrar of Unclaimed Moneys.
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.
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.