Recent reports indicate that Canadians have left approximately $2 billion in uncashed federal checks over the last four years. This substantial amount comprises millions of paper cheques mailed out by various government departments.
Significant Uncashed Amounts
Documents presented in Parliament show that a total of 3.9 million cheques were issued to Canadians, yet remained uncashed. This highlights a concerning trend in financial oversight among recipients.
Breakdown of Uncashed Cheques
- Canada Carbon Rebate: $141 million
- Canada Child Benefit: $42.8 million
The Canada Carbon Rebate was designed to alleviate the costs associated with carbon pricing but was canceled last year. Notably, uncashed cheques from this program do not expire, leaving families eligible for these funds.
The Canada Child Benefit also saw significant uncashed amounts, which are intended to support the costs of raising children. While direct deposit is the preferred method for disbursing funds, many benefits continue to be delivered via mail, resulting in these substantial sums remaining unclaimed.
Government’s Payment Preferences
Despite the uncollected funds, the federal government encourages the use of direct deposit for future payments. However, the persistence of paper cheques may contribute to individuals overlooking available financial resources.
The situation presents an opportunity for increased awareness regarding uncashed federal checks and the benefits tied to them.
