Home > Credit Help > Bank of Canada Unclaimed Money

Date:   November 03, 2003
By:                John Chen

Bank of Canada makes filing a claim free and easy for unclaimed bank balances

As the rightful owner of an unclaimed balance savings account, chequing account and or negotiable instrument, the Bank of Canada makes filing a claim free and easy.

To release the funds, the Bank of Canada requires a confirmation of your signature from the financial institution where the funds were initially held. 

Click on the account you wish to claim, click on "Claim Form" then print out the Payment Authorization form. Complete the "To be completed by Claimant" portion of the form, then forward it to the financial institution address noted in "STEP 2" of the Payment Authorization form. That bank should be able to confirm to the Bank of Canada that you are the rightful owner of the funds by completing their portion of the form and forwarding it to them. 

In some cases, the branch where the unclaimed balance was held has been closed. If the bank of Canada system does not have a forwarding address for that branch on-line, the following message will appear on your screen: 

“The current address for this financial institution is not available on-line.” 

Then contact the Bank of Canada directly at the address below. 

If the financial institution to whom you sent the Payment Authorization form informs you that they cannot guarantee your signature, they should still note this on the form. You will then have to provide the Bank of Canada with the form or letter that was returned by the financial institution along with documents proving your entitlement to the balance. For example: 

• an original bank passbook or bank statement 
• proof that you once resided at the address noted under "Account Information" 
• a change of name certificate 

If you are unable to provide such documents and believe you are the rightful owner of a balance, please send the Payment Authorization form you have received from the financial institution along with a note explaining your situation. 

Forward these documents to: 

Bank of Canada Unclaimed Balances Services 
234 Wellington Street 
Ottawa, ON K1A 0G9
Telephone: 1-888-891-6398 
Facsimile: (613) 782-7802 
E-mail: ucbalances@bank-banque-canada.ca 

(Include your name and address with your request)

It may take 30 to 60 days to process your claim. They may contact you to obtain additional documentary evidence. 

If you believe that you are entitled to an unclaimed negotiable instrument, contact the Bank of Canada so that they may send you the required claim forms. 

As the heir to an estate the Bank of Canada takes the pain out of finding unclaimed bank balances and filing a claim. 

You need to contact the Bank of Canada directly so that they may inform you of the legal documentation required to process your claim. Be prepared to provide them with the following information: 

• your name and current address 
• your relationship to the deceased owner of the unclaimed balance 
• legal documents proving that you are representing the estate, or are an heir to the deceased's estate (e.g. Power of Attorney, will) 
• whether anyone else may have some entitlement to the balance in question 
• documentation to prove that the deceased resided at the address provided to the Bank of Canada by the financial institution which transferred the unclaimed balance. 

In your capacity as officer of an organization, you can also seek and claim bank balances. 

Contact the Bank of Canada directly so that they may inform you of the legal documentation required to process your claim. Be prepared to provide them with the following information: 

• your name and current address
• name of the organization with the unclaimed balance
• status of the organization (e.g., active or dissolved corporation) documentation supporting this (i.e., Certificate of Good Standing or Dissolution from the appropriate crown)
• legal documents certifying that you are representing the interests of the organization
• whether another party may be entitled to the balance in question. 

So, no matter what your interest in the unclaimed bank balance, the Bank of Canada makes it easy to file a claim.

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