The Bank of Canada is currently holding over $900 million in unclaimed money across more than 2.4 million accounts. These are real balances — dormant bank accounts, forgotten GICs, uncashed bank drafts — that were transferred to the Bank of Canada after their owners could not be located. The average account holds approximately $375, but some run into the hundreds of thousands. Every search is free and takes under five minutes.
Most Canadians do not know this database exists. Even fewer think to search it on behalf of deceased family members, using former names, or across multiple provinces. This guide covers every legitimate source of unclaimed money in Canada, how to make a claim, and how to avoid the scams that circle this topic.
Where to Search
Unclaimed money in Canada is spread across several separate databases. A complete search requires checking all that are relevant to your situation.
Bank of Canada (ucb.bankofcanada.ca) is the primary federal database and the place to start. It covers dormant accounts, matured GICs, uncashed bank drafts, and money orders from federally regulated financial institutions. This is where the $900 million+ is held.
CRA My Account (canada.ca/my-cra-account) covers uncashed federal government cheques: tax refunds, GST/HST credits, Canada Child Benefit payments, Climate Action Incentive payments, and similar. If you have moved, changed banks, or missed a cheque, this is where to look.
Service Canada holds unclaimed CPP, OAS, and EI benefit payments. Contact them at 1-800-277-9914 or log into My Service Canada Account to check for outstanding payments.
Provincial programs capture assets not covered by the federal database — insurance proceeds, unclaimed investment dividends, safe deposit box contents, and assets held by provincially regulated entities. Only three provinces have dedicated programs:
| Province | Program | Website |
|---|---|---|
| British Columbia | BC Unclaimed Property Society | unclaimedpropertybc.ca |
| Alberta | Alberta Unclaimed Property | alberta.ca/unclaimed-property |
| Quebec | Revenu Québec — Unclaimed Property | revenuquebec.ca |
Residents of Ontario, Manitoba, Saskatchewan, New Brunswick, Nova Scotia, PEI, and Newfoundland have no provincial program. Their only options are the Bank of Canada database, CRA My Account, and Service Canada.
Step 1: Search the Bank of Canada Database
Go to ucb.bankofcanada.ca and enter your last name. The search is case-insensitive and returns all partial matches — you do not need to know which bank held the account or when.
Search systematically:
- Your current last name
- Any former last names (maiden name, previous legal names)
- Names of deceased family members for whom you may be the estate representative
- Variant spellings if your name is commonly misspelled
The results show the owner’s name, city and province, financial institution, and the approximate balance range. If you see a potential match, click through to view the full claim details and claim number.
Step 2: Make a Claim
Once you find a balance that appears to be yours, the claim process is straightforward but requires documentation. Download the claim form from the Bank of Canada website and assemble the following:
Proof of identity: A copy of government-issued photo ID — driver’s licence, passport, or health card.
Proof of address: A utility bill, bank statement, or government correspondence showing your current address.
Proof of entitlement: This is the document that connects you to the account. Old bank statements, an account passbook, original deposit receipts, or a letter from the financial institution confirming the account was in your name. If you do not have these, explain the circumstances in a cover letter — the Bank of Canada has seen many claims where records are decades old.
If claiming for a deceased person: Death certificate, will or probate documents, and letters of administration or equivalent documentation establishing your authority to act for the estate.
If your name has changed: Marriage certificate or legal name change document showing the link between your former name (on the account) and your current name.
Mail copies — never originals — to the Bank of Canada. The review process takes 6–8 weeks. If approved, the Bank mails a cheque to your address. The Bank of Canada does not pay by direct deposit or e-Transfer.
| Document | When Required |
|---|---|
| Government-issued photo ID | Always |
| Proof of current address | Always |
| Proof of entitlement (old statements, passbook) | Always |
| Death certificate + estate documents | Claiming for a deceased person |
| Marriage or name-change certificate | If name differs from account name |
What Types of Money Go Unclaimed
Understanding what categories of money become unclaimed helps when searching for family members or older accounts.
Dormant bank accounts are the most common. Canadian banks are required to transfer account balances to the Bank of Canada after 10 years of inactivity — no deposits, no withdrawals, no contact with the owner. The bank must make reasonable efforts to locate the owner before transferring; if those efforts fail, the balance moves to the federal database.
Matured GICs that were never redeemed or renewed are transferred the same way. Someone who purchased a 5-year GIC and then moved or passed away without redeeming it would have that balance sitting in the database.
Uncashed bank drafts and money orders — payment instruments that were issued but never deposited — are also held by the Bank of Canada. These are surprisingly common in estate situations where a draft was issued as part of a settlement but the recipient died before cashing it.
Government cheques (tax refunds, benefit payments) go to CRA when an address is wrong, a cheque is lost, or a recipient has died. These are retrievable through CRA My Account without a formal claim process — simply verifying your current banking and mailing information in CRA My Account will often trigger a reissuance of any outstanding payment.
Insurance proceeds are held by provincial programs in BC, Alberta, and Quebec when a beneficiary cannot be located after a policyholder dies. Life insurance policies from decades ago, where the insurer cannot find the named beneficiary, are a common source of unclaimed provincial funds.
Provincial Programs in Detail
British Columbia
The BC Unclaimed Property Society covers a wider range of asset types than the federal database — financial institution accounts, insurance proceeds, securities and dividends, safe deposit box contents, and trust funds. Search free at unclaimedpropertybc.ca. The claim process is handled online with uploaded documentation; processing takes 4–12 weeks.
Alberta
Alberta’s program operates through the Treasury Board and Finance and covers financial assets, insurance proceeds, and trust property. Search at alberta.ca/unclaimed-property. Claim forms and supporting documents are submitted by mail or online. Processing typically takes 6–12 weeks.
Quebec
Revenu Québec administers Quebec’s unclaimed property program under the province’s Civil Code. It covers bank accounts, insurance, securities, dividends, and deposits. The search is available through the Revenu Québec portal at revenuquebec.ca. Claims can be submitted online or by paper form; processing takes 4–8 weeks.
Avoid Unclaimed Money Scams
Unclaimed money is a consistently popular fraud category because the underlying premise is legitimate — money really is unclaimed — which makes scam pitches easier to believe. Several fraud patterns are common:
Fee-for-search companies charge upfront fees or monthly subscriptions to search databases that are entirely free to access yourself. The databases at ucb.bankofcanada.ca, unclaimedpropertybc.ca, alberta.ca, and revenuquebec.ca are public and free. There is no legitimate reason to pay anyone to search them.
Percentage-of-recovery offers promise to find your unclaimed money in exchange for 20–40% of whatever is recovered. The claim process with the Bank of Canada and provincial programs is designed for direct claimants and costs nothing. Giving up 20–40% of a balance you could claim yourself for free is an unnecessary expense at best.
Unsolicited contact claiming you have unclaimed funds. The Bank of Canada and provincial programs do not email or call you to tell you that you have an unclaimed balance — they communicate by mail only, and only in response to an inquiry or a claim already in progress. An email or phone call claiming you have unclaimed money is a phishing attempt designed to collect personal information or payment.
Requests for banking credentials or advance payment. The government sends you a cheque upon approval — it never asks for your banking login, your online banking password, or payment in any form before releasing funds. Gift card payment requests and cryptocurrency payment requests are always scams.
All legitimate unclaimed property searches in Canada are free. The process is designed to be completed by individuals without assistance.
Complete Search Checklist
A thorough search for unclaimed money in Canada covers multiple databases and name variations. Run through this list once, then set a reminder to search again in two years — new balances are transferred to the Bank of Canada continuously.
- Search Bank of Canada (ucb.bankofcanada.ca) using your current last name
- Repeat with all former last names, maiden names, and name variations
- Search for deceased family members (parents, grandparents, siblings)
- Search your province’s program if you are in BC, Alberta, or Quebec
- Log into CRA My Account to check for uncashed government cheques and payments
- Check My Service Canada Account for unclaimed CPP, OAS, or EI payments
- Contact any former employers about unclaimed pension or group benefits
- Check with former insurers about forgotten or lapsed life insurance policies
- Check for unclaimed investment dividends through former brokerages