Despite efforts by the Bank of Canada to get in touch with the money’s rightful owners, the total value and number of inactive accounts has exploded
But the Bank of Canada isn’t the only government institution sitting on a massive windfall of money in search of its rightful owner.
“With most unclaimed property organizations, the amount of dormant funds remitted by holders exceeds the amount claimed each year,” he explained in an email. Last year, the society remitted just over $700,000.their free online registry“The oldest unclaimed account in the society’s database dates back to 1859. It’s an unclaimed estate valued at around $200, which was transferred to the society by the Public Guardian and Trustee of B.C.,” Livingston said.
According to Revenu Quebec spokesperson Claude-Olivier Fagnant, the oldest unclaimed balance is a 53-year-old estate worth just over $40,000. In Alberta, the government also set up the Unclaimed Property Registry to help it find the rightful owners of over 362,000 accounts worth a combined $135 million, according to an email from an unnamed Alberta Treasury Board and Finance spokesperson.
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