BANGALORE: It is better late than never. If you are unaware of your money being kept in the bank for long, you can claim it back anytime with full interest. Even if it’s not you who is present to claim the money your successor can claim it on your behalf. Your due money can be present in any form you have invested in, such as Insurance policies, old bank accounts, stocks, bonds, dividends, pension funds, government benefits or inheritance.

To find the hidden money and claim is indeed a very tedious job. With bank accounts and all financial investments, you are eligible to claim your money anytime with full benefits. But it can be a daunting task to claim your money invested in dividends and stocks. It’s necessary to encash the cheque sent   to you by the concerned institution as early as possible. This is because if the money stays unused in your account for seven years, the money automatically gets transferred in the hands of government, even though the claim is authentic after seven years. Later it is used for education funds.

However, the question arises whether the government has any rights over the money or if the seven years is enough time before the money is taken off permanently? According to the lawyers, the time period on the law stated that if a person is untraceable for seven years, is assumed dead. India is still facing such problem, as it does not have facility to trace down the claimants of the money.

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