Have you got any unclaimed cash at the Bank of Canada?

The central bank is holding about $678 million in unclaimed funds. Here’s how to find out if any of it is yours.

Some people get excited about finding a $5 bill in an old coat pocket. But what about the millions of dollars sitting forgotten in Canadian banks?

At the end of December, approximately 1.8 million unclaimed balances – worth about $678 million – were on the Bank of Canada’s books, according to its website.

The unclaimed money stems from all kinds of accounts, including savings, credit card balances, or traveller’s cheques.

Money is considered ‘unclaimed,’ and transferred from provincial banks and trusts to the Bank of Canada, when a bank account has no owner activity for a period of 10 years and the owner can’t be contacted by the bank or trust company holding the money.

Nearly all of the unclaimed balances from last year are under $1,000, but make up 26 per cent of the total value outstanding. That means about 120,000 unclaimed balances are worth more more than $1,000.

Unclaimed balances less than $1,000 are held for 30 years, while balances more than $1,000 are held for 100 years. If left unclaimed, the funds are transferred to the Receiver General for Canada.

To find out if some of the money is yours, visit the Bank of Canada website, and fill out the claims form. Any funds that belong to you will be sent within a few weeks.

Last year, the bank of Canada paid out $15 million to balance holders – one balance dating to 1900.


@ashwadhwaniashley.wadhwani@bpdigital.caLike us on Facebook and follow us on Twitter.

Just Posted

Come help celebrate 60 years at Nadina

Romeo Gourdeau may never have imagined that what he began 60 years… Continue reading

Downtown beautification plan moves forward

Council chooses contractor to develop the plan

First Nation pipeline protesters erect ‘tiny homes’ in B.C. Park

Kanahus Manuel and Tiny House Warriors say more homes being constructed in park

Hazelton’s Vickers creates Grateful Dead album cover

“Unbelievable, inspiring, grounding, and very exciting,” Roy Henry Vickers says of experience

France doubles up Croatia 4-2 to win World Cup

Played in Moscow Russia, latest Fifa World Cup marks the highest scoring final since 1966

VIDEO: Visual recap of Vancouver Island MusicFest

Walk Off The Earth, Passenger, Arlo Guthrie among highlights

Trudeau’s youth council divided over Trans Mountain pipeline purchase

A letter signed by 16 past and present members was made public today, asking the federal government to reverse course

Hulk Hogan reinstated into wrestling Hall of Fame

Hogan had used racial slurs caught on video when talking about his daughter sleeping with a black man

‘Lava bomb’ through roof of tour boat injures 22 in Hawaii

“An explosion occurred near the shoreline hurling hot lava rocks towards the boat and injuring several passengers”

B.C. teen meets Nicolas Cage

Filming mob movie in downtown Vernon, B.C.

Critics claim Trump “defended a tyrant”

Trump questions US intel, not Putin, on Russia 2016 meddling

B.C. MLAs choose new children’s watchdog

Jennifer Charlesworth has worked in government, social services

B.C. reporter calls out immigration photo on social media as fake news

A Vancouver reporter is calling out a British politician for spreading fake news

Hundreds of Arctic glaciers shrinking, disappearing

Out of 1,773 glaciers, 1,353 shrank significantly between 2000 and 2016

Most Read