Bank of Canada Holds 1.4 Million Unclaimed Balances

At the end of December 2013,unclaimed balances, worth some $532 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 2013, the Bank paid out $14 million to account holders. The oldest balance dates back to 1900.

Canada is somewhat behind other nations in handling unclaimed property. The provinces of Quebec and Alberta have progressive unclaimed property laws and British Columbia has a voluntary system.

Search for Bank of Canada’s unclaimed balances in English at: Bank of Canada Unclaimed Database

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