unclaimed Bank Balances

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crazyheart

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Does your church have un unclaimed bank balance? It's possible. Search the Bank of Canada's Unclaimed Balance data base using your church's name and see what comes up. Using "United Church" alone I found over $900 for Brunswick St. United Church UCW and $2300 for KIKINO UNITED CHURCH BUILDING FUND. Have fun!
http://www.bankofcanada.ca/unclaimed-balances/


Unclaimed Balances

Banks and federally chartered trust and loan companies are required to transfer to the Bank of Canada all unclaimed bank balances maintained in Canada in Canadian currency that have been inactive for a period of 10 years.
bankofcanada.ca
 

crazyheart

Rest In Peace: tomorrow,tomorrow
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Hope you find some money This was posted on United Church group by DKS
 

Lastpointe

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Every year or so I check all our family names. Found someone for an uncle once, about $4000 and about $50 for a cousin.


Our church just opened up a long lost safety deposit box. Hoping for riches, we got lots of original paper work and deeds. Nice to have, not worth anything
 

Carolla

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I've never thought to check the church ... do occasionally (and hopefully!) check family names :)
 

ChemGal

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If there's a disaster or something, I can see how something like this might happen. Even a merger if it's a small amount of money. I would expect a church to be responsible with the money though, and forgetting about an account doesn't seem too responsible.
 

Mendalla

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If there's a disaster or something, I can see how something like this might happen. Even a merger if it's a small amount of money. I would expect a church to be responsible with the money though, and forgetting about an account doesn't seem too responsible.
A small church with a volunteer treasurer who doesn't have much financial background. A church where the treasurer socks stuff away "for a rainy day" and the information doesn't get passed on properly. A fund-raiser put on by one committee or group and the funds don't get moved into the main account through some cock-up or other. In a volunteer-run organization like a church, I can see plenty of things that could happen. Does not make it right, but it does not surprise me.
 

Lastpointe

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I think the idea of a small group opening an account that only that committee knows about is really possible.

And sometimes people like to have numerous accounts so one could be overlooked.

I know when my dad died he had about seven accounts. Savings, chequing, holiday savings, gift account, savings for donations......

It was how he portioned out money , so he didn't spend money he had allocated to something else.
 

ChemGal

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Thanks Mendalla. There's been so much talk about church committees, 2 people to sign, etc. You're right though, in some cases it's probably small without much oversight.
 

Mendalla

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Only one person by my name in the database and he has a different middle name.
 

ChemGal

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I've looked at it years ago. I'm aware of my accounts though, so checking it from time to time with my name seems pointless.
 

Mendalla

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Really, if you check once and you aren't on there, you don't really need to keep checking as long you're on top of your finances. I've really only had one bank account for the last 25 or so years (since I left Kitchener) so it would be hard for me to "lose" anything.
 

Sterton

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My dad got a bill for being overdrawn on a bank account from forty years ago that he forgot (didn't know?) he had. They had been withdrawing bank fees from it every month for decades until finally it was empty. He then had to pay a fee to close it. He was not impressed. You'd think, being in a small town with one bank, someone would have noticed a dormant bank account and told him about it.
 
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