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Canada unclaimed money

Canada Unclaimed Bank Account Search

 

Canada Unclaimed Bank Accounts

Banks and federally chartered trust and loan companies are required to transfer to a custodian all unclaimed bank balances maintained in Canada in Canadian currency that have been inactive for a period of 10 years.

This includes savings and chequing/current accounts; bank drafts, certified cheques, official cheques, money orders, traveller's cheques, credit card balances, term deposits, guaranteed investment certificates (GIC) and depository receipts.

Currently there are approximately 1.8 million unclaimed bank balances - worth $678 million - that have gone unclaimed. This typically occurs following name changes after marriage or divorce, unreported changes of address, and most frequently upon death of the owner.

Unclaimed balances of less than $1,000 are held for 30 years. Balances of $1,000 or more are held for 100 years. Interest is paid for the first 10 years of custody. If the balance remains unclaimed at the end of the custody period, Bank of Canada transfers the funds to the Receiver General for Canada.

To search for a missing bank account or lost CD, or if you have reason to believe a deceased relative may have unclaimed funds at a bank but aren’t sure where, complete the form below:



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