Published
Pardeep S. Grewal is a lawyer at Lawgical Law Corporation, called to the BC bar in 2024, and a member of the Law Society of British Columbia.
Updated November 11, 2026: the Financial Consumer Agency of Canada’s unclaimed bank balances page (modified October 23, 2026) checked that day.
BC Unclaimed Property Society: holds dormant money from credit unions, insurers, pensions and court and estate funds. Searching is free at bcunclaimed.ca.
Bank of Canada: holds bank balances inactive for 10 years: amounts under $1,000 for 30 years, and $1,000 or more for 100 years.
Also check: uncashed cheques in the deceased’s papers.
The lawyers who handle these estate files
About our lawyers
Sundeep S. Grewal founded Lawgical Law Corporation and practises probate, estate litigation and immigration. He has represented clients in the Provincial and Supreme Courts of British Columbia, from chambers applications to contested trials.
Pardeep S. Grewal is a probate, estates and immigration lawyer known for clear communication and practical strategy.
People often leave money they’ve forgotten about: an old credit union account, a small insurance payout, a pension refund, or a bank account untouched for years. As executor, it’s worth searching the unclaimed property databases as part of your inventory of assets. In BC, the BC Unclaimed Property Society holds dormant funds transferred to it by organizations, and its search is free. Federally regulated banks transfer balances inactive for 10 years to the Bank of Canada, which holds them for 30 years if under $1,000 and 100 years if $1,000 or more. Any money found belongs to the estate and is claimed by the executor, usually with the death certificate and the grant of probate.
Lawgical Law Corporation, a probate and estate law firm with offices in Surrey, Abbotsford and Vancouver, BC, helps executors find and collect estate assets; this guide is by Pardeep S. Grewal.
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Where to search
| Source | What it holds |
|---|---|
| BC Unclaimed Property Society | Dormant money transferred under BC’s Unclaimed Property Act: credit union accounts, insurance payments, unpaid wages and benefits, real estate deposits, closed pension benefits, securities, and court and estate funds |
| Bank of Canada Unclaimed Properties Office | Balances from federally regulated banks unused for 10 years |
| The deceased’s papers | Uncashed cheques: pension, dividend, refund and salary cheques |
| Other provinces | If the deceased lived or worked elsewhere, check that province’s program |
The BC Unclaimed Property Society
According to a 2024 article in the Canadian Bar Association’s BarTalk, the Society’s database held over $218 million unclaimed, including about $78 million in estate holdings, and funds may be transferred to it after five years of inactivity. It suggests executors check it as part of their asset inventory. The search is free.
Bank of Canada
If a bank account isn’t used for 10 years, the bank must transfer the balance to the Bank of Canada after sending notices in years 2, 5 and 9 of inactivity. The Bank of Canada holds balances under $1,000 for 30 years and $1,000 or more for 100 years, according to the Financial Consumer Agency of Canada.
Claiming for the estate
- Search under the deceased’s name, including former names and old addresses.
- Follow the holder’s claim process. Expect to provide the death certificate and proof of your authority, usually the grant of probate or administration.
- Deposit the money into the estate account and add it to your accounts. If it changes the estate’s value, a supplementary affidavit of assets may be needed for probate fees.
Mistakes I have seen
- Closing the estate without searching, then finding money years later.
- Paying a “finder” a percentage for searches that are free.
- Throwing out old cheques found in the deceased’s papers.
Frequently asked questions
Is it free to search for unclaimed money in BC?
Yes. The BC Unclaimed Property Society and the Bank of Canada searches are free.
Who can claim a deceased person’s unclaimed money?
Usually the executor or administrator, on behalf of the estate.
What if the estate is already distributed?
The executor can still claim it and distribute it to the beneficiaries under the will or intestacy rules.
What should I do right now?
Search both databases under every name the deceased used, and add any results to your list of assets.
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Sources
- The British Columbia Unclaimed Property Society, CBABC BarTalk (June 2024)
- Unclaimed bank balances, Financial Consumer Agency of Canada (modified October 23, 2026)
- CLE BC, Probate and Estate Administration Practice Manual, §§1.90, 10.13, 15.37
This article is general information about BC law, not legal advice for your situation.