26 - Wednesdays,

August 4,

{987 ~ North Shore News

Millions of dollars stil! le
unclaimed in Canadian banks

IN RECENT years a number of
researchers Or tracing companies
have written to consumers, offar-
ing to help them recover their
unclaimed bank balances.

These researchers charge a fee of
up to 40 per cent of the recovered
amount. Though their services are
not illegal, consumers should be
aware that they can easily recover
their own unclaimed balances
without paying anything.

Every year, banks are required
to prepare a list of the names and
addresses of the holders of all ac-
counts and instruments worth
more than $50 that have been inac-
live for nine years.

This vear’s list is published in a
special supplement of the Canada
Gazette. Part 1, Jung 27, 1987.

After a bank account has been
inactive for 10 years, the funds are
transferred to che Bank of Canada,
where they are kept in the name oc

OPENA
CENTRAL ACCOUNT.

Your chance to

SHOOOWINNERS |

EVERIN AION FR

CAR WINNERS

EVERY MONTE

IT
Central
Trust

STORE COOCMEN CHELAN

Varnes ate “bee So aN!

Verve None gy

Tae ML ew

“ IN* we

the holder. The Bank of Canadit is
currently holding $56.6 millon in
unclaimed balances, including $8.7
million reported last vear alone.
The annual Canada Gazette
supplement chat lists accounts in-

rian.

active for nine vears ts available in
allt public libraries.

Consumers whose naines appear
in this vear’s list may recover their
funds from the appropriate bank
branch.

NORBURN /
Gi LiGHTING

AON East Mantings phuraty Tel. 299-0666

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