can you tell me more about this bank thing?
Google speaks:
http://www.abc.net.au/news/2013-02-26/banks-warn-customers-government-set-to-take-their-money/4541116Legislation amended late last year means any account that has not seen activity within three years can be transferred into the Commonwealth's hands - previously the rule was seven years.
http://www.news.com.au/finance/money/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131HOUSEHOLDS face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts.
After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues.
This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission.
http://www.afr.com/news/politics/budget-grab-for-inactive-bank-accounts-20130226-j13c5“Imagine if I was looking after 200 property accounts and I had to do that for every one," Mr Lukav said. “It’s just ridiculous. The bond could sit here for the period of the lease, which could be five, 10 or 25 years and there is no need to withdraw or deposit."
Westpac Banking Corp told customers in a recent letter: “We encourage you to transact (even a minimum of $1.00) on the account listed above within the next 72 hours otherwise you may be at risk of having the balance in this account transferred to the Australian Securities and Investments Commission (ASIC), which will occur on ASIC’s request."
https://www.westpac.com.au/personal-banking/bank-accounts/read-up-on/unclaimed-moneys/If you do not make a deposit or withdrawal (excluding bank charges or interest paid) on an account for 3 years, Westpac will notify you (if we have a valid address) that the account will be closed.
If the account balance is $500 or more the balance will be transferred to the Commonwealth Government's unclaimed moneys fund. The Commonwealth Government maintains a database for unclaimed money transferred from financial institutions.
Westpac will assist you in making a claim to recover moneys that have been transferred to the Commonwealth Government unclaimed moneys fund. Please be aware, this process can take up to 3 months.
If we would have this rule in Switzerland I would have lost some bank accounts

One would be my child account ... there is nothing really on it and on another is money I inherited.
I also don't see the point of such rules (except stealing becomes legal).

Even I'm also not happy with our politicians here in Switzerland, but when I hear such storys ...
