Under The Unclaimed Moneys Act 1965, your fixed deposits (with automatic renewal instruction) will be classified as Unclaimed Moneys if the FDs have not been operated in whatever manner for a period of not less than 7 years.
In another words, bank will still transfer your money in fixed deposit account as unclaimed moneys to Accountant General, the Registrar of Unclaimed Moneys as appointed by the Minister of Finance, although you have signed the standing instruction for automatic renewal facility. Please take note!
Refund of Unclaimed Moneys
How to get back the unclaimed moneys?
Basically, you shall be able to prove to The Registrar that you are the rightful owner over the money to be claimed. The following documents are required for submission:
- Form UMA-7 (click here to download)
- Original fixed deposit certificate
- Photocopy of IC (identify card)
Please share this with your family members and friends to avoid the unnecessary hassles.
For more information, visit Jabatan Akauntan Negara Malaysia