Did you know you might have some surprise money?? A bank account you’ve forgotten?
The Bank of Canada has a database of unclaimed bank accounts. You just have to type in your name and see if you have a windfall!
“When there has been no owner activity in relation to the balance for a period of 10 years, and the owner cannot be contacted by the institution holding it, the balance is turned over to the Bank of Canada, which acts as custodian on behalf of the owner. Balances are transferred to the Bank of Canada once a year, on 31 December.”
“At the end of December 2011, approximately 1.3 million unclaimed balances, worth some $465 million, were on the Bank’s books.
Over 93% of unclaimed balances were under $1,000.00, representing 29% of the total value outstanding. In 2011, the Bank paid out $15.8 million to account holders. The oldest balance dates back to 1900.”