How to claim old bonds?

[prawn_86]

Hi all,

A bit of a strange question but here goes:

One of the boards i am on received a sealed package from the bank. The seal has a date of 1995 on it.

In the package were some bonds titled 'certificate of debenture stock'. This surprised us all, but being from so long ago, none of the current members have any idea about it. On each of the bonds it says the redeemable date is in 1996. The issuer is AGC, which used to be owned by Westpac but was sold to GE in 2002, according to my googling.

Questions:
How do i find out if these are still valid? Is there somewhere i can plug the holder or cerificate number in?

Who do i talk to?

How do i redeem them if they are still good?


I have authority to act on behalf of the association in question so thats not a problem, i have just never seen a real bond before, let alone one that is 15years old.

 

[prawn_86]

Any help here? I have no idea.

Westpac palmed me off to GE who said i have to write a letter cause they were before computer records

 

[jono1887]

Huh? no computer records back in 1995?? they should really get up to date!!

 

[shanefoody]

Hi all,

A bit of a strange question but here goes:

One of the boards i am on received a sealed package from the bank. The seal has a date of 1995 on it.

In the package were some bonds titled 'certificate of debenture stock'. This surprised us all, but being from so long ago, none of the current members have any idea about it. On each of the bonds it says the redeemable date is in 1996. The issuer is AGC, which used to be owned by Westpac but was sold to GE in 2002, according to my googling.

Questions:
How do i find out if these are still valid? Is there somewhere i can plug the holder or cerificate number in?

Who do i talk to?

How do i redeem them if they are still good?


I have authority to act on behalf of the association in question so thats not a problem, i have just never seen a real bond before, let alone one that is 15years old.

Hi There,

We got given exactly the same thing an AGC Certificate of Debenture Stock.

Did you have any luck getting the money. Did you end up writing the letter to GE?

Any other info would be greatly appreciated.


Regards
Shane

 

[Ton12]

Hi There,

We got given exactly the same thing an AGC Certificate of Debenture Stock.

Did you have any luck getting the money. Did you end up writing the letter to GE?

Any other info would be greatly appreciated.


Regards
Shane

Hi, has any one had any luck in claiming the debenture stock from AGC who are now owned by GE? Was there a service line or number that we can call. Any help would be grateful.
Regards
Tony

 

[jondeb33]

Hi, has any one had any luck in claiming the debenture stock from AGC who are now owned by GE? Was there a service line or number that we can call. Any help would be grateful.
Regards
Tony

Hello, We are also trying to find out about how to reclaim the old AGC Debenture Stocks.
Has anyone had success in their pursuit? Does anyone have any advice, phone numbers or contacts to help solve this puzzle. Thankyou. jondeb33

 

[rnr]

A search for Unclaimed Monies would seem to be the way to go.

Source of Extract (pages 8 to 11 quoted below).

Guide to Searching for Unclaimed Moneys – June 2005

Old Accounts and Unclaimed Moneys
We receive regular disputes from consumers about funds which they deposited to an
account, sometimes many years ago, and of which a member says it no longer has a
record.
What happens to Unclaimed Money?
Members have been required under federal and/or state legislation to transfer funds
held in dormant accounts to a Commonwealth or State Unclaimed Moneys Fund after a
certain number of years.
It is our view that a member is obliged to assist customers, where necessary, to retrieve
funds and to ensure that any referral information provided is accurate and up to date.
In relation to old bank accounts, a customer should check with the bank first and then
with the Unclaimed Moneys Funds administered by ASIC and the Office of State
Revenue in NSW (which received many savings bank accounts prior to 1989). A search of
the local state fund is also recommended in case the funds were transferred there.
Recent Dispute
The importance of checking with Unclaimed Moneys Funds was underlined by a recent
dispute received by this office. A claim was made for funds invested in a deposit stock
account in 1988 which could not be located after enquiries by the disputant’s solicitor
and our staff.

The Unclaimed Moneys Fund located the money after making further enquiries with a
money finding company which had previously written to the disputant about the
investment.
Good Industry Practice relating to Dormant Accounts
We are aware that many members have an established practice of sending letters of
notification to customers or attempting to telephone them when an account becomes
dormant or inoperative. We regard this procedure to be good industry practice.
Further, we expect members to check all their available records for an old account upon
a customer’s request.
Please refer to Bulletin No 25 for information about our approach to disputes about old
passbook and term deposit accounts.
A Guide to Searching for Unclaimed Moneys
We have put together a table of the different places that we are aware of where lost or
unclaimed funds may be found. We thought it could be helpful information for financial
services providers or their customers who are trying to find out what might have
happened to the funds in an old account or where there is a dispute between them about
what has happened to an old account.
The table is to be used as a guide only and we recommend reference be made to the
relevant website for up to date information.

Organisation and Contact Details

Details of Unclaimed Moneys Held
Australia wide:

Australian Securities &
Investments Commission
Tel: 1300 301 198
www.fido.asic.gov.au
• Unclaimed savings bank accounts back to 1989; and
• Some trading bank accounts back to 1959, where the
account has not been used by the account holder for
more than seven years and any applicable account
threshold is met (see below).
Account balance threshold
1989 to 1993 $100 or more
From 1993 $500 or more
• Unclaimed money held by credit unions and building
societies last accessed by the account holder after 1992
and where the balance exceeds $500;
• Unclaimed life insurance policy money from life insurance
companies (back to 1988) and friendly societies (back to
2000) unclaimed for more than seven years after the
maturity date; and
• Unclaimed company money from the compulsory
acquisition of shares resulting from takeovers back to 1991.

ACT:
The Public Trustee
Tel: (02) 6207 9800
www.publictrustee.act.gov.au
• ACT accounts inactive for over six years;
• Includes deposits, dividends, trust account funds, interest,
refunds, overpayments, sale proceeds, bonds,
superannuation benefits and retirement savings accounts;
• Also, includes trust moneys held by licensed agents for
more than three years and moneys held in solicitors’ trust
accounts for more than six years; and
• Does not include bank, building society or credit union
accounts.
• Online database holds listings back to 1989.

NSW:
Office of State Revenue
Tel: 1300 366 016
www.osr.nsw.gov.au
• Unclaimed moneys held by businesses, government
agencies and local councils that operate in NSW where it
has not been possible to locate the rightful owner for six
years or more and where the amount is $100 or more;
• Includes interest from investments, dividends, council
deposits, profits and some superannuation benefits; and
• Also includes the following savings accounts last used
during the years shown in brackets:
→ All banks (1976-1982) (except Commonwealth Bank);
→ State Bank of NSW (1976-1986);
→ All credit unions, building and friendly societies
(1976-1991);
→ St George Building Society (1976-1985).

NT:
Department of Treasury
Tel: (08) 8999 6620
www.nt.gov.au/ntt
Online search not available.
• Unclaimed moneys related to a Northern Territory
company, such as profits, dividends, bonuses or any other
monies payable to a member of a company;
• Unclaimed superannuation from Northern Territory
government funds;
• Unclaimed funds from telephone or internet betting
accounts in the Northern Territory; and
• Unclaimed Tattersall’s and Keno winnings in the Northern
Territory where the ticket is over 12 months old.
The Public Trustee for the Northern Territory administers
unclaimed money relating to beneficiaries of estates
(Tel: (08) 8999 7271).

VIC:
State Revenue Office
Tel: 13 21 61
www.sro.vic.gov.au
• Includes all share dividends, salaries and wages, rents and
bonds, debentures and interest, unpresented cheques, trust
moneys, and superannuation benefits held by Victorian
businesses, trustees and superannuation providers;
• Unclaimed Tattslotto or TAB winnings in Victoria
• Database may be searched online for funds lodged since
1/7/97 where amount is $10 or more. However, this database
does not hold information about banking institutions,
life insurance, Tattslotto prizes, or TAB dividends; and
• For funds transferred prior to 1/7/97, hard copy records
are kept which may be searched by the SRO.

QLD:
Public Trustee
Tel: (07) 3213 9368
www.pt.qld.gov.au
• Unclaimed money from deceased estates in Queensland;
• Unclaimed moneys and property from companies
(unclaimed for three years), hospitals and institutions
(unclaimed for three months), trustees, local authorities,
landlords, pawnbrokers, storers and traders located in
Queensland; and
• Unclaimed superannuation where the member has
reached the eligibility age for a pension and the
superannuation fund is unable to locate the member or if
the member has died and the funds have not been
claimed by an executor or administrator.
No bank account funds are transferred to this organisation.
This website register dates back to 1996.

SA:
Dept of Treasury & Finance
Tel: (08) 8226 3106
www.treasury.sa.gov.au
(click on the “enquiries” tab
and then scroll down to the
Unclaimed Monies link)
Online search not available.
• Unclaimed moneys includes funds deposited by businesses,
government agencies and local councils with a head office
registered in South Australia and where the rightful owner
was not located for nine years or more; and
• Includes principal and interest, dividends (not company
shares), deposits, refunds, unpresented/void/stale
cheques, deceased estates, superannuation benefits
where the member is at retirement age, wages and
salaries, bank balances prior to 1989 and building society
and credit union balances prior to 1992.

TAS:
Dept of Treasury & Finance
Tel: (03) 6233 2948
www.treasury.tas.gov.au
Online search not available.
• Unclaimed Superannuation money in Tasmania where the
beneficiary has reached the eligibility age for a pension;
• Money legally payable by a company with a registered
office in Tasmania where the entitled person has been
unable to claim the funds for a six year period; and
• Includes principal and interest, dividends, profits and
bonuses.
Does not include unclaimed bank accounts.

WA:
Dept of Treasury and Finance
Tel: (08) 9222 9185
www.dtf.wa.gov.au
• Receives funds mainly from Western Australian based
businesses and government organisations; and
• Does not retain information about bank accounts, life
insurance, company shares or superannuation where a
claimant has not reached retirement age.
Also refer to the Australian Taxation Office for lost superannuation (www.ato.gov.au or
telephone 13 10 20).

 

[oliprestoni]

Hi everyone,

Has anybody had any luck tracking down where to contact? I followed the unclaimed monies route, that just resulted in an email to try the unclaimed monies search (which results in nothing).

I've also posted to an debentures forwarding address, but no luck witch that yet.

I'm amazing nobody seems to have found the answer yet.

Cheers

 

[oliprestoni]

Hi everyone,

Has anybody had any luck tracking down where to contact? I followed the unclaimed monies route, that just resulted in an email to try the unclaimed monies search (which results in nothing).

I've also posted to an debentures forwarding address, but no luck witch that yet.

I'm amazing nobody seems to have found the answer yet.

Cheers

After a few hours of trying GE, being redirected multiple times i'm not sure what to do next.

Looking a little deeper it seems GE has then been sold to KKR & Co in March this year - http://www.smh.com.au/business/bank...ld-in-recordsetting-deal-20150315-144oeq.html

I've tried lost monies, GE and Westpac. Where is my money?!

 

[oliprestoni]

I've tried lost monies, GE and Westpac. Where is my money?!

After calling a local GE Money branch, she's made some enquiries and i'm supposedly receiving a call back in the next couple of days from their legal department. Will update the thread if I get any information.

UPDATE: got a call back from the back office/ direct servicing department and they're helping me get to the bottom if it. She did inform me that some accounts were passed onto ASIC's unclaimed money, but she's looking for me anyway.

 

[jenbobcat]

I tried a few years ago, got as far as contacting GE CAPITAL (02) 89132519 - that might be a fax number. I have certainly never received any money.