The nation’s central bank, primarily responsible for monetary policy, is holding about $320 million in unclaimed balances in 938,000 accounts. When these accounts are inactive for more than 10 years, the money is turned over to the Bank of Canada.
The oldest balance on record dates back to 1900, but 86 per cent of the balances are under $500.
To see if you have an unclaimed balance at one of your previous financial institutions, visit www.bank-banque-canada.ca/en/ucb.
You can also check the names of your friends, relatives, co-workers, neighbours and anyone else you can think of. Be sure to also check the names of relatives that have passed on as this is one of the most common ways money becomes lost.
jchin@mississauga.net
