B.C. non-profit has $150 million of unclaimed cash & cheques. Does some belong to you?

Only a small portion of millions of dollars of forgotten or unclaimed money is ever claimed

Have you forgotten about a paycheque? Or, maybe you’re the person who lost $1.9 million.

Well, just because you’ve forgotten about money owed to you or held in old bank accounts doesn’t mean it’s lost forever.

The Vancouver Foundation and a little known provincial non-profit is sitting on more than $150 million in cash and assets that has gone unclaimed or been otherwise forgotten by generations of British Columbians. Some of that property dates back to 1859.

But just because you lost your cash, doesn’t mean you can’t get it back.

The society allows people to search its database for their own name. If you spot your name, you can then fill out a form that will start the process to determine whether the property in question actually belongs to you.

Click here to search your name. (If you end up actually finding and retrieving lost money, we’d love to hear from you after you get your lost cheque. Email tolsen@abbynews.com)

Last year, the British Columbia Unclaimed Property Society (BCUPS), which administers the provincial program, returned about $1.7 million to people.

But most money is never claimed – in 2018, more than $6 million went into the provincial unclaimed property pile. And since the BCUPS was created (taking over from a previous program) it has taken in about $96 million worth of unclaimed money, and paid out less than $15 million.

The largest amount claimed thus far has been $357,262. But the BCUPS is sitting on a larger pile: a dormant account holding $1.9 million is still waiting to be claimed.

If you worked for UBC in the 1990s, you might have particular reason to search your name. In 2016, the university found that 15,000 cheques had never been picked up before UBC implemented a direct-deposit payroll system. The university ended up transferring 9,000 accounts – $4.1 million in total – to the BCUPS.

Have you lived in another province, click here and go to the bottom of the page to find links to unclaimed property programs in Alberta, Manitoba, Quebec and other locations.

Do you have something to add to this story, or something else we should report on? Email:
tolsen@abbynews.com


@ty_olsen
Like us on Facebook and follow us on Twitter

Finance

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Q&A: Interior Health CEO answers questions on COVID-19 response

Susan Brown, president and CEO of Interior Health, answers questions regarding COVID-19

Elk Valley physicians pen letter to the public

The letter, submitted to The Free Press, is signed by over 30 physicians in the Elk Valley

Fernie Women’s Resource Centre continues to meet community needs

The centre will continue to offer their vital community services amidst the COVID-19 pandemic

6.5-magnitude earthquake in Idaho shakes the Kootenays

An earthquake was reportedly felt just before 5 p.m. throughout parts of B.C. and Alberta

Elkford shuts down emergency department

Elkford residents requiring emergency care are now to visit Fernie and Sparwood’s health centres

‘We will get through this’: B.C. sees new COVID-19 death, but 57% have recovered

A total of 1,066 people have tested positive for the novel coronavirus

French language supports added online for families learning at home

Games, culture and vocabulary included in new virtual resources

‘There can be no ambiguity’: Travellers brought home to B.C. must self-isolate

Health Minister Adrian Dix had sharp words for those arriving from overseas abiding by federal law

Interior Health confirms five additional cases in Okanagan COVID-19 outbreak

The total amount of confirmed cases at Bylands Nurseries Ltd. is 19; no further cases expected

55+ BC Games cancelled amid COVID-19 concerns

Greater Victoria set to host 2021 event

ANKORS East Kootenay details concerns surrounding harm reduction amid COVID-19

Harm reduction providers are having to keep up with rapidly changing situation

BC Hydro offers three-month bill ‘holiday’ for those affected by COVID-19

Industrial customers can defer half of their power bills

Some April Fool’s Day jokes bring much-needed laughter; others tone deaf to COVID-19

Police are warning the public not to use the ongoing pandemic as a punchline

Canada’s 75% wage subsidy is coming, but not for several weeks: finance minister

Subsidy will cost Canada $71 billion, but push down cost of emergency benefit, Morneau said

Most Read