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Retained repayments

If a bond is closed and the Residential Tenancies Bond Authority (RTBA) is unable to make a repayment due to a lack of details of where the repayment should be sent, the RTBA keeps the money as a retained repayment.

Reasons for retained repayments include:

  • no repayment details provided on the repayment claim
  • invalid bank account details - this prevents a transfer of funds by direct credit
  • no forwarding address available for a cheque to be sent
  • when a cheque is returned as undelivered mail.

Retained repayments related to closed bonds. The RTBA can make the outstanding repayment upon identifying the party (usually by matching signatures to the RTBA's records). The approval of the agent/landlord to the former bond is not required.

You can easily search for a retained repayment at the RTBA Online website using your family name. If the bond has been retained under your name, your name will appear in the search result.

If you did not provide a mobile phone number on the transactional form submitted to the RTBA, the RTBA will mail a notice of the retained repayment to the:

  • forwarding address provided on the form, or
  • the property address (if there was no forwarding address on the form).

If you did provide your mobile phone number, the RTBA will send you a SMS advising of the retained repayment.

Category:
Tenants and Landlords
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