What happens to uncashed certified cheques or Money orders ?

Originally posted Feb 19 2013

UnCashed certified cheques or UnCashed Money orders maybe waiting for you!

Maybe…you haven’t thought about checking the Bank of Canada unclaimed funds website because you are pretty careful about providing the bank with your forwarding address and you have not left any old bank accounts behind….but there might be another reason to check.

You may have provided a certified cheque or a money order to someone in the past and it was never cashed or provided to the payee…

TD money order

A certified cheque or money order can become “Unclaimed” funds

In the case of both of these kinds of transactions, funds for the certified cheque or money order are deducted from your account right away when the Bank draws them up for you . However, if you never gave the certified cheque or the money order to the payee as you had intended to for any reason or if that payee never actually cashed that payment…it becomes an unclaimed amount related to the account it was withdrawn from.

There are plenty of “Unclaimed” certified cheques or money orders in the Bank of Canada  – enough to make it worth your while to check

Please do and let us know if you come across some of those kinds of transactions or a bank account you or a loved one had forgotten about.  Please keep in mind that the Bank of Canada unclaimed bank balance account includes only accounts in Canadian dollars(we are not sure why) and only federally regulated bank accounts (not provincially regulated credit unions)

Please get in touch if you have any other questions about unclaimed funds we would be happy to try and help.  We don’t have all the answers but we can try …

The link to the Bank of Canada website is  here 

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