5/26/2009

Unclaimed Balances

An "unclaimed balance" is a Canadian-dollar deposit or negotiable instrument,
issued or held by a federally regulated bank or trust company. It can be in the
form of a deposit account, bank draft, certified cheque, deposit receipt, money
order, GIC, term deposit, credit card balance, or
traveller's cheque. '

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.

I copied and pasted the above from this website.

If you or a loved one thinks that their may be outstanding balances in your family, you can search the Bank of Canada archives using their search form.

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