As per Unclaimed Moneys Act 1965
Most of us have a portion of savings in Fixed Deposits (FD).
For convenience, we may set the FD to auto-renew & auto-credit into our accounts.
However, do be careful as if any of your funds (including FD!) is untouched for 7 years, the money automatically is forfeit as unclaimed moneys & goes into a BNM consolidated unclaimed moneys fund.
“unclaimed moneys” means—(a) all sums of money which are legally payable to the ownerand have remained unpaid for a period of not less thanone year after they have become payable;(b) all sums of money to the credit of an account that hasnot been operated in whatever manner by the owner fora period of not less than seven years; and(c) all sums of money to the credit of a trade account whichhas remained dormant for a period of not less than twoyears
It is a tedious & long drawn process to claim back. However if your money (or your kin’s) money is in the account, you can contact the following:
Pendaftar Wang Tidak Dituntut
Jabatan Akauntan Negara Malaysia
Menara Maybank, Jalan Tun Perak
58000 Kuala Lumpur
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