Are you owed a share of $274 million in unclaimed money? Here's how to check
Nearly a million Australians are owed a slice, averaging around $280 each.
In Australia, hundreds of millions of dollars in unclaimed money remain unpaid, with 974,000 people owed a portion of $274.5 million in Medicare benefits. Services Australia urges citizens to verify their bank account information in their Medicare online account to prevent missing out on these funds. The average claim per person is around $280, but young adults between 18 and 24 years old will see the largest share, with over $65 million owed to 255,000 individuals.
To claim, one must log in to their myGov account or update their details with Medicare when their bank or address changes. Once updated, the unpaid Medicare benefits should be deposited into their account within three days. Those not comfortable with the online process can contact the Medicare line at 132 011 or visit a service centre to update their bank information.
Unclaimed money exists in various forms, such as superannuation, deceased estates, and lost shares, with each state maintaining a database for searches.
Written by urgent.news from SBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
