How do people “lose” their accounts?
There are a number of reasons how people might lose or forget their money. Probably the two most common reasons are moving and deaths. According to Statistics Canada almost half the population of Canada moves each year! One of the highest rates in the world. When people move they likely open a new account with a bank that is convenient to their new location. They forget to inform their old bank they moved and over time forget about the old account. In the event of a death the executor of the will and relatives left behind either do not know the bank account exists or can not locate it.
