Questions and Answers / 2

How does the claim process work?

When we recover an unclaimed financial asset that we assume belongs to you, we follow the proper claim procedures which vary within the 75 information banks. Consequently, as the instructions are followed based on the strictest guidelines, we are able to achieve the maximum success in our recovery process. As such, we prepare all the necessary documents, and in many cases, we only require your signature. Finally, the documents will be sent to the appropriate person in the various identified location.

How long will it take to process an unclaimed financial asset claim?

Generally, to process and pay an unclaimed financial asset claim will take within 6-12 weeks from the receipt of a request. For more complicated claims, the process may take longer.

Does unclaimed financial assets earn interest?

In Canada and in the USA, most unclaimed financial assets do not earn interest. However in some instances, interest starts to accrue from the date on which the unclaimed property remitted to a Government is liquidated, that is, converted into cash. In addition, interest at the prescribed rate may be accrued on amounts from some bank accounts.

Could our employees discover these unclaimed financial assets?

Generally, our services are not aimed at questioning your staff’s competence. However, we have sourced 75 areas where unclaimed amounts could be found in North America. Furthermore, the number of search areas expands from year to year. Part of this information is obtained via the Access to Information Act. As we are completely dedicated to discovering unclaimed financial assets, we have created a bank of information that we will use for the purpose of our research.

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