Where to find extra cash with your name on it

by | Mar 28, 2024 | Finance and Business

Many of us are finding it hard to manage the rising costs of living like rent, groceries and other necessities. It may feel like you can’t make ends meet, let alone get ahead. But what if there is cash waiting for you?

The Canada Revenue Agency (CRA) calculates that it has distributed approximately $1.4 billion in cheques that have not been cashed yet, and one of these could have your name on it. Some of them date back to 1998 – a bit like finding an unclaimed lottery ticket in a drawer or $20 in your old coat pocket.

In 2020, a grandparent discovered they had over 100 uncashed cheques worth almost $50,000. As a pensioner and primary caretaker for their grandchildren the money was very much needed and appreciated. The amount was a combination of many benefits. Make sure you check with the agency for any uncashed cheques you may have on file.

These cheques never expire, and if you’ve already signed up for My Account, you should be able to see if you have one right away.

If you haven’t signed up for the online account yet you can do it on the CRA website or by calling their general enquiries line at 800-959-8281.

While you’re at it, you may want to sign up for direct deposit to have your money securely deposited into your bank account. That way, you’ll never miss a cheque again.

You can find more information on how to claim uncashed cheques at canada.ca/cra-uncashed-cheques

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