When it comes to finances most people try to be careful with their money. But Today we find out that perhaps we are not as careful as we want to be! Our Question: As of 2017 Canadians have lost a total $742 Million due to this. What is it?
It might be something you want to look into yourself.
Answer: Unclaimed bank balances.
“• At the end of 2017, approximately 1.9 million unclaimed balances, worth $742 million, were on the Bank’s books. Over 93 per cent of unclaimed balances were valued at under $1,000, representing 26 percent of the total value outstanding.
- In 2017, the Bank paid out $10 million to balance holders.
- The oldest balance dates back to 1900.”