Money you didn't know you had owing to you could be making its way into your pockets and purses just in time for Christmas.

If you have a broker, a financial advisor or even a bank manager signing you up to financial products, then read on.

Many people are unaware that they are entitled to the commission these advisors receive, if they are unhappy with the product.

Many types of financial products including superannuation and car insurance include something called 'trailing commission', which brokers, financial advisors, and bank managers are entitled to.

Nicole Pederson McKinnon says, "If you've got life insurance, commission on life insurance can be up to 35 per cent each and every year. So if your premiums are $2000, that's $700 you could be getting a share of. You're talking very big money here."

Nicole Pederson McKinnon from the Financial Review's Smart Investor Magazine says that financial advisors and planners are furious.

Fees and charges they normally bag can now be taken from them.

As of July 1st 2012 trailing commissions will be banned on new products, but not existing products you have already signed up to.

"What you do when you sign up to yourself with these agencies, is you transfer what you call servicing rights over to them and they become the intermediary then and what they are doing is taking a little bit on the way for their time and their bother but they're giving the rest to you." adds Pederson-Mckinnon

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Yourshare is just one of a dozen rebate service companies offering to round up fees and charges. They take a maximum commission of $295 for the service.

Sally Farrow from Yourshare says they've posted over a million dollars back to customers this year alone.

Today Tonight spoke with Susan McGary who demanded refunds when she was not happy with products provided.

"Some of these products have been sitting there for 20 or 30 years and never heard from them since, so when they are not providing a service then."

"Then it seems strange that I'm still paying trailing commissions on that."

"That's a decent size cheque, that's a huge amount of money, a huge amount of money for filling in a form. Can you believe it?" says McGary.

Catherine Rule told Today Tonight her cheque was almost $10 000.

Rule describes it as "Very easy money, I don't do anything. I filled in the one form and every year around December I get a cheque."

For more information:

Smart Investor

YourShare www.yourshare.com.au

or call 1300 554 774