The Edge: Have any unclaimed money? By Lim Siew May on 26 Jan 2011
I found an outdated cheque (08/04/2010) for Rm56.25 from Chuan Huat Resources Bhd and decided to claim for it. The following were the steps I had to go through:
1. Called up the listed company's registrars, Sectrars Services Sdn Bhd and was told to write to them with a copy of the cheque;
2. Received a reply from Sectrars (14/02/2012) informing me that they had submitted my claim to Pendaftar Wang Tak Dituntut, and to wait for their acknowledgement;
3. Received a letter from Sectrars (15/03/2012) instructing me to complete an enclosed Form UMA-7, together with their confirmation letter for submission to PWTD;
4. Sent by ordinary post the completed form with the confirmation letter today; and
5. Now sit and wait, and hope it will reach PWTD and then a cheque for the amount claimed.
It should be noted that with the e-Dividend system in place, such problems of dividend cheques lost in the post or misplaced by recipients will be increasingly rare. But until then, I believe there must be many instances of 'dormant bank account monies, share dividends, life insurance policies, unclaimed wages and EPF contributions' which our government has been accumulating happily. I can still remember the days when such transfers of unclaimed monies were done after 7 years! In the case of my dividend cheque, after just over a year and it was transferred! I can also remember our government had announced some time ago (rubbing their hands in glee, I suppose) that they will be using the accumulated unclaimed billions in EPF accounts! I could sense the almost indecent eagerness to transfer unclaimed monies to the government.
I wonder how many of us would take the trouble to go through what I had been through for just Rm56.25! But I did it partly to gather first hand information on the claiming procedure.