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Unclaimed bank accounts in Canada
Independent, free guide. Not affiliated with BC Unclaimed or government.
If a bank account, GIC or bank draft sits unused for 10 years, federally regulated banks must transfer the balance to the Bank of Canada. You can search for it online. The Bank of Canada says "there is no fee associated with searching for and initiating a property claim" (Bank of Canada Unclaimed Properties Office).
How forgotten bank accounts become unclaimed
Your bank must write to you after 2, 5 and 9 years of inactivity. After 10 years the balance moves to the Bank of Canada, which holds balances under $1,000 for 30 years and $1,000 or more for 100 years.
Sources: FCAC · Bank Act s.438
How to search and claim
- Open the Bank of Canada unclaimed properties search.
- Search by last name, first name, city and province. Try old addresses and former names.
- If you find a match, start the claim online and upload ID.
- Canada Savings Bonds and Canada RSP/RIF are also handled there. Bonds aren't name-searchable, so follow its instructions.
Credit unions are provincially regulated. In BC, check BC Unclaimed.
Frequently asked questions
Where do unclaimed bank accounts go in Canada?
Balances at federally regulated banks inactive for 10 years go to the Bank of Canada.
How long does the Bank of Canada keep unclaimed balances?
Under $1,000: 30 years. $1,000 or more: 100 years.
How do I search Bank of Canada unclaimed balances?
Search by name on the Bank of Canada Unclaimed Properties Office site and follow its claim instructions. You don't need a third party to do it.