Just yesterday I received an account statement from a Singapore bank that I hadn't heard from for over 20 years about an account that I thought I had closed more than 20 years ago. It advised me that the account balance was $0.00. There was no accompanying letter.
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"No friend ever served me, and no enemy ever wronged me, whom I have not repaid in full."
I actually found a refund from Telstra that I didn't know about. Also found some super belonging to my late grandfather when I was searching for stuff for myself & late father. If you've got a name like Smith or Jones, it's hard but if you have an uncommon name, it's easy. Funds are kept at Federal level and each state. There is still monies owing to my late father (~$80) & late father-in-law (also ~$80) but I'm having trouble getting both.
Father's money is a transcription error when AMP computerised their records. I have all the details / proof but AMP won't budge. NSW was entered rather than VIC as the state that the policy was kept in and I have proof. Father-in-laws in a bonus paid on a policy after his estate was would up. The hoops we have to jump thru for $80 is incredible.
Apparently companies do not have to send out anything over $100 so they just hang on to it and eventually give it to the Govt (State or Federal). That is why there is lots of little stuff.
My grandfathers super was from the 1930s when he was put off during the Depression but only appeared when the company closed up in there 1980s. Still have some monies that I think belong to his sister who never married but that's a bit of a long-shot. He had shifted house several times during that 50 years. I had to show a little bit of paperwork but luckily I had it all.
I recently found some payments for a friend from a company he had an investments in that went into liquidation many years ago. He just though the company went broke. He has close to 200 payments for a total of ~$600. This was a case of payments < $100.
-- Edited by Spydermann on Wednesday 25th of November 2015 08:26:54 AM
I used to work for them in the early nineties. I had three policies for the kids. Circumstances made me return to the UK so I made the policies paid up because I could not pay the premiums whilst abroad for a few years. When I returned to Australia they had demutualised and gone private. "No records could be found" so my money was lost. Funny that, because they have to by law keep records for a minimum of seven years. This was five years later.
Using my maiden name, my daughter discovered I had $10,000 worth of a forgotten life insurance policy. It took a bit of effort, and some extra $$ to obtain the proper paperwork, but was worth it in the end.
I can't recall which website it was, but I've found this link that's give a choice of 3 or 4.
Just before I retired I saw someone lose most of their super in the GFC. They kept telling me how stupid I was to have my funds in low risk while they were earning the big bucks in high risk. They're still working & I retired over 5 years ago. Ha Ha Ha! Now who's stupid?
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Cheers Desert Dweller.
Our land abounds in Natures gifts. Of beauty rich and rare.
Well, I went through this exercise maybe 8 or so years ago and picked up 3 or 4 lots. 3 of less than a $100, and one of about $500. I must have done it properly, as this time of exactly ZILCH I will go to the grave knowing that, "I aint left nuthin".
Thanks for your input people.
Simmo.
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Hard work never killed anybody but why take the chance.