Aussies have racked up $2.3bn in unclaimed money. Here’s how you could be eligible for the extra cash.

Aussies may be entitled to a share in billions of dollars’ worth of “unclaimed money” accumulated over the years. Here’s how you can find out if you’re eligible.

Cash-strapped Aussies could be entitled to a slice of $2.3bn worth of “unclaimed money” through financial institutions across the country.

The Australian Securities & Investments Commission (ASIC) revealed the massive figure has gone unclaimed through bank accounts, shares, investments and life insurance policies.

“This can happen when people change address or go overseas and forget to update their details with a financial institution or company,” the ASIC website states.

“Or people may be unaware there is money to which they have a rightful claim.”

More than $2bn has gone unclaimed. Picture: NewsWire / Nicholas Eagar

It takes seven years of a bank account or life insurance policy being inactive to deem it as unclaimed, however there is no time limit on people claiming the cash and interest is paid for money unclaimed since July 2013.

ASIC receives the unclaimed money before transferring it over to the Commonwealth of Australia Consolidated Revenue Fund.

Australians can claim the cash by using the unclaimed money search on ASIC’s Moneysmart website, or by checking the Australian Taxation Office, state government or Services Australia.

NSW residents can also check Revenue NSW, while those in Victoria can give the State Revenue Office a go.

Those in Queensland can look to the Queensland Public Trustee, while those in the Australian Capital Territory can use the Public Trustee and Guardian.

Western Australians, South Australians and Tasmanians can check their respective Department of Treasury and Finance, while those in the Northern Territory can check the Territory Revenue Office, the Department of Treasury and Finance and the Public Trustee, according to 9 News.