Millions in unclaimed cash up for grabs in the Northern Rivers

HUNDREDS of Northern Rivers residents could be owed money they don’t even know exists, with millions of dollars sitting unclaimed in a NSW government register.

Across the Northern Coast, more than 41,000 unclaimed items worth about $12.4 million are waiting to be claimed.

Unclaimed money is cash people are legally entitled to but have not received, often because businesses have been unable to locate them.

Funds commonly go unclaimed when people change their name or address, lose paperwork, or when estates are unaware of money belonging to deceased relatives.

The unclaimed money register, managed by Revenue NSW, includes uncashed cheques, refunds, dividends, overpayments and other amounts owed to individuals.

Statewide, almost $300 million is currently held in the register across more than 800,000 items linked to NSW addresses.

Last year, more than $21 million was returned to its rightful owners after claims were lodged.

Recent system upgrades have simplified the claims process, including faster verification and stronger integration with Service NSW.

The timeframe for businesses to report unclaimed money has also been reduced, helping ensure funds are transferred and returned sooner.

Minister for the North Coast Janelle Saffin said millions of dollars belonging to local residents remained unclaimed.

“There is over $12 million sitting in a vault that belongs right here in the Northern Rivers community,” Ms Saffin said.

“We want that money out of government accounts and back into your pockets where it can actually make a difference,” she said.

Claims can be lodged through Revenue NSW by confirming identity and connection to the funds, with most processed within about a month.