Bank of Canada might be holding some of your money and here's how to claim it
Could the Bank of Canada be holding on to some of your money? There's an easy way to find out and claim it.
The Unclaimed Properties Office (UPO) is an organization that helps Canadians access assets held by the Bank of Canada. These assets can include unclaimed bank balances, Canada Savings bonds, and amounts from Retirement Savings Plans (RSP) and retirement income funds (RIF).
The UPO states that its goal is to reunite "rightful owners with their forgotten funds."
So, how can you check if the Bank of Canada has some of your money?
Visit the Unclaimed Property website here. The online search tool allows you to find unclaimed bank balances, such as accounts, deposits or negotiable instruments.
To search, enter your last name or the name of your business. You can also include your city and province. Alternatively, you can also enter your bank account number.
If you do still have some money with the Bank of Canada, the result will show the following information along with your name:
To claim your cash, you must be one of the following:
If you're requesting the claim on someone else's behalf — meaning you're a third-party representative (their lawyer, for example), you must get authorization from the primary claimant.
Unfortunately, the site does not allow you to search for Canada Savings Bonds, Canada Premium Bonds, Canada RSP, Canada RIF or Government of Canada bonds.
"All Canada Savings Bonds and Canada Premium Bonds reached maturity and stopped earning interest," states the UPO website. "Cash in your bond certificates by bringing them to the financial institution where you bank or invest."
Check here for more information to see if you have unclaimed money in those departments.
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