Unclaimed Canadian Federal Cheques Exceed $2 Billion
Canadians have left over $2 billion unclaimed in federal cheques, according to recent documents from Parliament. In the past four fiscal years, approximately 3.9 million paper cheques, valued at $2,159,665,155, went uncashed. These cheques include tax refunds, pension payments, and various government benefits.
Significant Uncashed Amounts
Among the notable amounts, around $141 million in Canada Carbon Rebate cheques and $50 million for Climate Action tax credits issued to British Columbia residents remain unclaimed. Additionally, about $42.8 million in payments through the Canada Child Benefit, designed to assist families with child-rearing costs, are also uncollected.
Direct Deposit Preference
The federal government’s preferred method of payment is direct deposit, which accounts for only 8.51 percent of total federal payments made by cheque. Despite this preference, many agencies continue to issue a significant number of cheques.
Cost of Issuing Cheques
- The cost to issue a cheque is approximately $1.83.
- From April 1, 2022, to September 30, 2025, an estimated 121 million cheques were mailed out.
- This process is projected to cost taxpayers around $222 million.
Checking for Uncashed Cheques
Canadians can verify if they have uncashed cheques by checking their Canada Revenue Agency accounts. They may also contact the agency directly for assistance. Importantly, government cheques do not expire and can be reissued if lost or damaged.
Government Transition Plans
According to Public Services and Procurement Canada, individual departments are responsible for managing the transition from paper cheques. There was a proposal to create a prepaid card system for some payments, but this was deemed too costly compared to the direct deposit option. Additionally, there was significant public opposition to the prepaid card concept.
