What are unclaimed funds in BC and how do you know if you have any?

Every year, people across British Columbia are surprised to learn they have money waiting for them.  Maybe you opened a credit union account and forgot to close it before moving. Maybe you forgot to cash a cheque for an insurance payment. Or maybe a family member passed away, and you never knew they listed you as their beneficiary.

These are all examples of unclaimed property. Money that belongs to someone but has not yet been claimed. BC Unclaimed exists to help reunite people with those funds through a secure and trusted process.

If you're wondering what it is, and whether any of it might belong to you, here’s what you need to know.

What exactly is unclaimed property?

Unclaimed property is money that has been held by an organization on behalf of someone else and hasn’t been claimed after a certain period of time. This could include things like uncashed cheques, dormant accounts, unpaid wages, or forgotten insurance payouts.

When organizations are unable to contact the rightful owner, and enough time has passed, those funds may be transferred to BC Unclaimed under the Unclaimed Property Act.

We hold those funds securely and continue trying to reunite them with their rightful owners, ensuring funds are always claimable. When funds are no longer needed for future claims, they are put to work in communities across BC through our partnership with Vancouver Foundation.

Why might I have unclaimed funds?

There are many reasons you might have money waiting without knowing it:

• You moved and didn’t update your address.

• You didn’t use an account in a long time and it became dormant.

• A family member named you as a beneficiary on an insurance policy, but the insurer couldn’t find you.

• You forgot to cash a cheque.

In many cases, people simply forget. Others are unaware that the money exists in the first place.

How can I check if any of it belongs to me?

It only takes a minute to search. Visit bcunclaimed.ca and enter your name. You do not need to know the exact source of the funds; just start with your name, and we’ll show you any matches. If something comes up, we’ll walk you through the steps to make a claim. There is no fee and no deadline. Your funds remain available for as long as it takes to reunite them with you. Can I claim for a deceased family member?

If there are funds in the name of your relative who has passed away and you are their executor, we can help guide you through the process of claiming the funds. Visit our related blog for more details: Can you claim unclaimed funds for a family member or estate?

What happens if I don’t claim it?

Your funds will never expire. They stay claimable forever.

The funds are held securely, and we ensure that they can be paid out at any time. Surplus funds are used to support charities, non-profits and community organizations across BC. Through our partnership with the Vancouver Foundation, unclaimed funds have helped support food security, mental health services, environmental protection, and more.

Check your name today

There’s only one way to know for sure. Search your name at bcunclaimed.ca/search. It’s free, simple, and secure. We follow strict privacy laws to protect your personal information, and we never charge a fee to search or claim.

Whether the amount is large or small, it’s yours, and we’re here to help you claim it.