Unclaimed Moneys: Changes to legislation
If you do not make a deposit or withdrawal (excluding bank charges or interest paid) on an account for 3 years, Westpac will notify you (if we have a valid address) that the account will be closed.
If the account balance is $500 or more the balance will be transferred to the Commonwealth Government's unclaimed moneys fund. The Commonwealth Government maintains a database for unclaimed money transferred from financial institutions.
Westpac will assist you in making a claim to recover moneys that have been transferred to the Commonwealth Government unclaimed moneys fund. Please be aware, this process can take up to 3 months.
To make a claim for balances that Westpac has treated as unclaimed moneys:
- Print and complete the 'Unclaimed moneys form' below,
- Visit and return the form to your local Westpac branch.
Please note: you will need to provide sufficient documentation for us to verify your identity and account ownership.
Unclaimed moneys form (PDF 84kb)