Commonwealth Bank response to ASIC media release regarding Travel Money Card
Thursday, 9 October 2014
The Commonwealth Bank can confirm that no customer funds left on a Travel Money Card has ever been forfeited, and we have co-operated with ASIC in implementing the new unclaimed monies process.
Since the introduction of Travel Money Card, we have always proactively contacted customers with balances greater than $500 to advise them of their options to have the money returned or their card renewed. We will continue to do this.
Our new processes mean that customers with any amount of funds left on their Travel Money Card, even where it has expired, can retrieve their balance as part of the unclaimed monies process.