The British Columbia Unclaimed Property Society returned approximately $1.7 million in unclaimed funds to the rightful owners in 2018, says the society’s Executive Director Alena Levitz.

Could you have unclaimed money waiting for you?

BC society distributes millions each year from forgotten accounts

As those post-holiday bills start coming in, many of us could use a little extra cash.

What if hundreds, or even thousands of dollars, was sitting in a long-forgotten account with your name on it, just waiting to be discovered?

The British Columbia Unclaimed Property Society (BCUPS) can help you find out. BCUPS is a not-for-profit society charged with administering the province’s unclaimed property program.

In 2018, BCUPS returned approximately $1.7 million in unclaimed funds to the rightful owners – forgotten credit union accounts, for example, court settlements or final wages for employees who may have moved on without leaving a forwarding address. Since its inception, approximately $14.5 million has been returned from inactive accounts.

BC is one of only three Canadian provinces with legislation around unclaimed property and because there’s no statute of limitations on distributing the funds, they simply stay with the society until claimed. Today, the BCUPS searchable database lists approximately $155 million in unclaimed funds!

“We’re kind of like a parking lot for unclaimed funds in B.C.,” BCUPS Executive Director Alena Levitz says with a laugh.

Starting the search is easy

While the average BCUPS claim is around $300 to $500, some are much more.

In these days of email scams and phishing, Levitz finds many people remain wary of the prospect of finding unclaimed funds. “I don’t blame people for being cautious,” Levitz says, reminding readers that “a reputable company or organization will never ask for money or banking information up front when it comes to searching for unclaimed money.”

You can check if you have unclaimed funds waiting for you by simply searching their database. There are no fees or costs to search for or claim forgotten funds through BCUPS.

Accounts of deceased family members can also be searched, and funds recovered providing the appropriate documentation is supplied.

And as money comes their way each year, the BCUPS team may also try to find you.

“If we receive funds above $200, we’ll try to find you, and if we do, we’ll send out a letter asking you to contact us,” Levitz says.

Did you know?

Philanthropy: Each year, a portion of BCUPS’s outstanding unclaimed funds are transferred to Vancouver Foundation to support community programs and social initiatives. The BCUPS Board determines the amount to donate each year that still ensures funds are available to meet future claims and operate the society. Last year, $2.8 million went to the Foundation, bringing the total since 2004 to $35.8 million!

How much?! The largest single amount BCUPS has distributed was $357,262 in 2011. The largest dormant account in the BCUPS database waiting to be claimed is worth $1.9 million.

Now THAT could pay for a lot of holiday bills!

To learn more, visit BCUPS at unclaimedpropertybc.ca and start your search today.

Comments are closed

Just Posted

Woman flees North Saanich RCMP in dinghy

Victoria woman tries to escape in dinghy, arrested for break and enter, theft and mischief

Sidney welcomes spicy new arrival

Mexican restaurant Taco Shell opened this week on Beacon Avenue

No boozing while BC Ferries cruising

Planned June launch for alcohol sales delayed

RCMP fine man $1,150 for camping, lighting campfire in Mill Hill Regional Park

Campfires prohibited at all regional parks except designated campgrounds

VIDEO: Rare white killer whale captured by drone near Campbell River

The transient orca has been named Tl’uk, a Coast Salish word that means ‘moon.’

Greater Victoria wanted list for the week of June 18

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Do you support the government’s decision to approve the Trans Mountain pipeline expansion?

The federal government announced Tuesday its approval for the Trans Mountain pipeline… Continue reading

’When thunder roars, go indoors’: How to keep safe before lightning strikes

Each year, an estimated 10 deaths and as many as 164 injuries are lightning-related

B.C. rolls out online registration to speed up evacuee processing

Central Okanagan district tests province’s streamlined emergency management digital self-registration

VIDEO: After 73 years, siblings separated by adoption reunite in B.C

Donna Smith of Abbotsford and Clayton Myers of Williams Lake are glad they met each other

B.C.-born Carey Price brings young fan to tears at NHL Awards banquet

Anderson Whitehead first met his hockey idol after his mother died of cancer

Nanaimo a prime market for new plane, Air Canada says

Vice-president previews Airbus A220, praises Nanaimo’s growth in passenger numbers

Most Read