There are billions of shillings worth of unclaimed assets at the Unclaimed Financial Assets Authority (UFAA) that the general public does not know about, these may be unclaimed dividends from financial investments like Safaricom, and there is a way to check if you or someone who has you listed as their next of kin has some.
Did you have a family member who may have died and left money in their M-Pesa that you do not know about? Most of the funds in the UFAA are drawn from SACCOs, money wallets, mobile money, pension schemes and insurance companies, banks, and legal firms.
UFAA on Monday, March 1st, said that the idle assets amounted to Sh51.4 billion in December 2020, a Sh8 billion rise from the Sh43 billion reported in June the same year.
UFAA was created to administer unclaimed financial assets. Our primary mandate is to receive unclaimed financial assets from the holders of such assets, safeguard and re-unite the assets with their rightful owners.
How To Check Your Unclaimed Financial Assets Online
- Head on over to the UFAA official website
- Select Claim > Start Claiming
- Register your Account or Log in If you have one
- Enter the Name of the Asset owner in the search bar.
- The list of assets will be displayed with an option to claim them
How To Claim Your Unclaimed Financial Assets
- Check all the Assets that belong to you or the asset owner you want to claim
- Choose who you’re Claiming the assets as (owner, business entity, behalf of another person or minor)
- A download button with three forms will be availed. ( Indemnity form, Bank Account Details, and Beneficiary claim)
- Download the files.
- Make sure you fill them correctly.
- Drag and drop all the filled forms in the space provided on the same page.
- Click submit.
How To Check Your Unclaimed Financial Assets Offline
- On your dialer, dial *361#
- Follow the prompts and register by providing your name and ID Number
- You will get a pin.
- Dial *361# again
- reply with your pin
- Select option 1 to search unclaimed asset
- Enter the name or ID number of the owner of the asset.
- The number of assets will be listed down for you.
UFAA says that some of these assets are unclaimed due to inheritance cases in court, the deceased failing to notify their next of kin, and absence of wills.