2 May 2009

Owners of $51m in unclaimed money sought

12:04 pm on 2 May 2009

The Inland Revenue Department is seeking a home for millions of dollars in unclaimed money which has been sitting in banks and other financial institutions.

The department has updated its unclaimed money list, which includes more than 84,000 entries totalling in excess of $51 million.

The amounts, dating back to 1973, range from about $100 to $230,000 in deposits in banks or insurance proceeds, cheques or wages. The money is not from tax refunds.

After six years of inactivity the funds are passed to the IRD, which administers the fund for unclaimed money.