Our mission at Genuine Refund Solutions is to be an unwavering advocate for our clients, relentlessly pursuing fair outcomes and delivering tangible results. We leverage our expertise to navigate complex refund processes, providing exceptional service and personalized attention to ensure clients reclaim the money they rightfully own.
WHY HAVE I BEEN CONTACTED REGARDING FINANCES THAT HAVE BEEN LOST?
As refund specialists, we proactively engage with individuals to help them reclaim lost funds. We’ve contacted you because we believe you may have unclaimed funds. Many people are unaware that money is waiting for them, making it a pleasant surprise to discover funds owed to them that they didn’t know about.
WHAT IS LOST AND UNCLAIMED MONEY?
Individuals and companies can lose track of their money due to changes like address, name, employer, or relocation, leading to oversights. When financial institutions can’t locate the owner, the money becomes “lost” and is often transferred to a government trust account, remaining unclaimed. If owners don’t step forward, the money becomes government revenue. Each state in New Zealand and Australia has distinct laws and institutions for lost funds, complicating the claiming process. Mistakes can prolong the return process, so it’s crucial to ensure a correct claim initially.
ARE WE LICENCED CONSULTANTS?
We’re pleased to share that our team is highly skilled, extensively trained, and possesses valid licenses from the leading authority in the Unclaimed Money Refund sector.
WHO WE HELP
Individuals
Corporate & Business
Government & Charities
HOW IS MY MONEY RETURNED?
Our refund experts specialize in locating unclaimed funds for individuals and companies in New Zealand and Australia who have lost track of their money. We begin by verifying the identity of the rightful owner(s) and then manage the claims process, handling documentation, preparation, and submission on their behalf.
What Happens if You Don’t Claim?
In simple terms, unclaimed funds often end up in a Government trust account and remain unclaimed. After a specific period, depending on the authority, the money is transferred to the Government’s consolidated revenue fund. Essentially, the Government takes possession, and the funds are no longer accessible.
READ MORE ABOUT UNCLAIMED MONEY IN THE NEWS
While this particular article discusses bank accounts alone, you can see you’re not alone in having lost funds. A staggering $1.1 billion is currently sitting unclaimed in Australia, while $ 261 million in unclaimed money is sitting with Inland Revenue, New Zealand.
HOW DO PEOPLE MISPLACE MILLIONS OF DOLLARS EVERY YEAR?
Every day, people and businesses leave cash in financial institutions, insurance companies, and with Government authorities. It’s human nature to forget and even the best kept records can have gaps. As absurd as it sounds, it happens constantly. It is estimated that 1 in 3 individuals actually have money owing to them without their knowledge. Most commonly, money is lost because of:
Overseas Move
Perhaps you forgot about a deposit? (It’s more common than you think.) Many people move overseas and forget to notify or change their details with their service providers.
Oversight
People forget about their investments all the time. Maybe you invested in some shares when you were 20 and forgot all about them, this is quite common.
Moved House
Perhaps you moved house and may have forgotten to update your new contact details to the relevant organisation and they were unable to contact you or your new address may not have been updated correctly.
WHAT KEEPS US IN CHECK!
WHAT LAWS DO YOU HAVE TO ABIDE BY?
There are many laws in place that protect you as a consumer and your lost money. It is an offence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to give false or misleading information or documentation. This means that we are bound by law to ensure that we undertake correct procedures. It also means that we are bound by law to promptly refund your funds into your preferred bank account or by cheque.
HOW DO WE STAY UP TO DATE?
We are trained through Create, they serve as a third party validating our claim as refund professionals. We are frequently updated with industry information which keeps our knowledge and training relevant so you can be sure you are putting your trust in the hands of up-to-date industry experts.
The Unclaimed Money Association is the peak body for the Unclaimed Money Industry. The Unclaimed Money Association provides the industry, agents, government and the public with proper representation, information and education. The Unclaimed Money Association provides industry guidelines for service providers to best practice in the unclaimed money industry.
TYPES OF LOST MONEY WAITING TO BE REUNITED WITH ITS OWNERS:
$ 651
Million Shares
$ 1.2
Billion Bank Accounts
$ 84
Million Life Insurance