Unclaimed Bank Funds - Do You Have Money You Don't Know About?

How many people leave money in a bank and then forget it's there or move away without claiming it? You would be surprised. In Canada, at the end of 2007 there was 320 million dollars left unclaimed in The Bank of Canada. The reasons people leave money behind are varied. Some people don't close a bank account and move away not realizing a deposit or transfer was made after they left. Some people have money in trust that is transfered to a bank they don't use anymore. Over 86% of the balances are under $500.00 according to The Bank of Canada website. Whatever the case may be, it is a good idea to check your name for unclaimed balances.

The bank of Canada provides an easy to use website where you can find out if you have an unclaimed balance:

http://www.bank-banque-canada.ca/en/index.html

Or do a search for unclaimed bank balances with your Country if you don't live in Canada. All countries have banks with funds left in them.

If you do find money, the website provides a claim form and details the documentation you will need to claim the amount. It also shows the address of the bank that you left the money at.
There are also, as always people who want to make money from knowing this information. Some people search the site and find the people who have unclaimed balances. For a finder's fee, they offer to give you the information of where your money is. Unfortunately, some people don't know that this information is free and readily available on the Internet. Don't waste your money on a finders fee if you get a letter saying you have unclaimed funds. Do the search yourself and you will get all your money.