Statement: Unclaimed go card funds to be reinvested

[ozbob]

http://www.scottemerson.com.au/media/media-releases/468-unclaimed-funds.html

Unclaimed go card funds to be reinvested

03 April 2014

go cards funds which haven't been used for more than five years will be reinvested back into public transport, under legislation that will provide better protection for commuters.

Transport and Main Roads Minister Scott Emerson said the changes would also ensure go card funds are always available for holders, while dormant funds, sitting on go cards which haven't been used for more than half a decade, were not lost to public transport.

"Under the current laws, there is the option for unclaimed go card funds to be transferred to the Public Trustee Office after only two years of inactivity," Mr Emerson said.

"We felt this wasn't a reasonable length of time, so have extended the dormant period to five years.

"However rather than those funds remaining dormant forever, if they aren't claimed by the holder after five years they will now be reinvested back into public transport.

"These changes won't prevent the card holder from reclaiming or transferring funds at any time – whether the five-year period has lapsed or not.

"Labor's previous legislation made it harder for passengers, but through these changes we are delivering on our election promise to revitalise frontline services."

Almost $400 million is loaded on to 2 million active go cards each year.

Mr Emerson said there were about 65,000 go cards which had remained dormant for more than five years with just 168 people applying for a refund or balance transfer.

"I would encourage anyone who has an old go card to ring TransLink and transfer the balance to their current card," he said.

"This is a sensible amendment to our laws to make sure we are continuing to invest in more frequent and reliable services and initiatives such as more Senior Network Officers."

For more information on go card registration, a refund or balance transfer, visit translink.com.au or phone 13 12 30.

[ozbob]

Couriermail --> Changes to go card rules mean credit on cards not used for five years is re-invested by government