Found Money!

Maybe some of you have heard about this story as it was in the news a couple of weeks ago. The Bank of Canada has a database that is accessible over the web where you can search for "unclaimed bank balances." The Bank of Canada website explains:

"The Bank of Canada maintains custody of all balances of $1,000 or more for 100 years, until they are claimed. Unclaimed balances under $1,000 are retained for forty years (ten years from the date of the last owner transaction at the Canadian bank, plus an additional thirty years at the Bank of Canada). Consequently, in the case of balances under $1,000, a written claim must be received by the Bank of Canada no later than December 31 of an account's last year (that is, the year of the last transaction date + forty years). "

Just how much unclaimed money does the Bank of Canada have?

"At the end of December 2007, approximately 938,000 unclaimed balances, worth some $320 million, were on the Bank's books. Over 86% of these were under $500, representing 19% of the total value outstanding. The oldest balance dates back to 1900."

I went to the site and started inputing various surnames and we found unclaimed amounts totalling about 40 dollars so far for poeple we knew. Wow! Reading this blog pays!

Anyways, click the link below and see if you have any money on that 320 million dollar pile.

http://ucbswww.bank-banque-canada.ca/scripts/search_english.cfm

Good luck!