The Process - Prosperity Refunds

The Process – How We Help

1. Contact and identify the likely owner

Perhaps you moved house, or moved overseas and have forgotten to update your new contact details? This can make it impossible for the organisation to contact you, or your new address may have been recorded incorrectly.

2. Complete documentation

If we have contacted you, we believe there is money that is likely to be owed to you. An Authority to Release form is a legal requirement that enables us to act on your behalf to recover your assets. In order to begin the recovery process, we need a completed Authority to Release form signed and returned to our office.

Our goal is to ensure the process is as straight forward as possible, removing the complexities associated with dealing with the institutions that hold the unrecovered funds. Each of the institutions that we deal with have unique requirements to release funds, however all of them require the following information to remove the risk of false claims:

Certified copies of identity documents
Certified copies of documentation to show proof of ownership of the assets or funds
Link to the last known postal address
Additional documentation, depending on the requirements of the holding authority.

We will be there to guide you through the requirements,

3. Manage and submit documentation

Prosperity Refunds will initiate the recovery of your funds, once we have received all correct and complete documentation. We will liaise directly with the holding authority throughout the claims process. They will notify us if there are any additional requirements or delays. We will keep you informed at each step of the process which generally takes between 4-6 weeks. Occasionally the time can be shorter or longer depending on the complexity of the claim.

4. Payment and fees

Prosperity Refunds have a trust account with a third-party company – Fee from Refund Pty Ltd (ABN 99 156 638 890). All recovered funds are paid into the trust account. Your funds will then be deposited from the trust account into your nominated bank account, minus our agreed fee of 15% + GST.

This system protects your cashflow, as we are paid directly from the refunded money. It also offers you an added layer of security, Fee from Refund Pty Ltd are an unrelated entity and are effectively a third party monitoring all transactions. It is the same service used by many accountants who are paid their fees out of their client’s tax refund.

We will provide you with a Payment Tax Invoice within 7 days.

Proactive Search

Do you think you might have money owing to you and don’t know where to start?

Periodic Search

Are you a business that deals with multiple agencies, councils and providers?

Talk to us about our Periodic Search service, to ensure you keep track of what’s yours.