An "unclaimed balance" is a Canadian-dollar deposit or negotiable instrument, issued or held by a federally regulated bank or trust company. It can be in the form of a deposit account, bank draft, certified cheque, deposit receipt, money order, GIC, term deposit, credit card balance, or traveler’s cheque.

When there has been no owner activity in relation to the balance for a period of 10 years, and the owner cannot be contacted by the institution holding it, the balance is turned over to the Bank of Canada, which acts as custodian on behalf of the owner.

In a few minutes we were able to find well over $50,000 unclaimed balance using common Abesha names. For example type Jembere, Alemu and you will see there is $17,611.34. The balances we have found range anywhere from $50 to $17,000.

Click here to check if you have unclaimed balance in one of the banks

1.  Why does the personal information of individuals appear on the Bank's Unclaimed Balances website?

The Privacy Act permits the disclosure of personal information when an Act of Parliament so authorizes.

Up until the end of 2007 the Bank Act authorized the Office of the Superintendent of Financial Institutions to publish (in the Canada Gazette, available at most libraries) information about all unclaimed balances of $100 or more, once they have been inactive for nine years. This information includes the creditor's name, last known address, and balance amount. The purpose is to help people locate balances that may be owed them.

If still unclaimed by the end of the tenth year, these balances are then given to the custody of the Bank of Canada, which in turn assumes responsibility for publishing the above information

2.  What unclaimed balances are maintained at the Bank of Canada?

Unclaimed bank balances held at the Bank of Canada are exclusively Canadian-dollar deposits in, and negotiable instruments issued by, Canadian banks at locations in Canada.

They can be in the form of deposit accounts, bank drafts, certified cheques, deposit receipts, money orders, or traveler’s cheques.

Unclaimed bank balances are maintained by the Bank of Canada, which acts as custodian on behalf of the owner, when there has been no owner activity in relation to the account for a period of 10 years and when the owner cannot be contacted by the Canadian bank holding that asset.

 3.  if I find unclaimed bank balances that I believe I am entitled to, what should I do?

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