by Jeff Colbourne
Northern News Services

NNSL (Oct 17/97) - A portion of nearly 100 Yellowknife bank accounts could be taken over the federal government at the end of this year -- a result of new dormant account rules that go into effect Dec. 31.

And, according to a company that tracks dormant accounts in an effort to repatriate lost or forgotten cash with its owners, across Canada this will mean millions for the federal government.

In this city alone, some dormant accounts currently hold several hundred unclaimed dollars.

For instance, RCMP Staff Sgt. Dave Grundy was telephoned by the Royal Bank last week and informed of an old account two members set up for a club about 10 or 15 years ago.

It had nearly $900 sitting there.

"When the members transferred, the account was forgotten about," said Grundy.

The RCMP's account is among 98 set up by Yellowknifers and then forgotten.

To access your old account at the bank or visit the popular Internet Web site of Found Money International.

BJ Mechanical, Canadian Arctic Co-op, RC Maintenance, Millett Travel and NWT Arts and Crafts are a few of the companies who have money owing to them. But a majority of accounts appear to be personal, according to information provided by Found Money International.

"We're creating a list of people in each city," said Marco Aiello, spokesman for the company.

If someone would like to check if they have a dormant account they can visit Found Money's web page at www.foundmoney.com, pay $10 for a search and see what comes up.

Recent amendments to the Bank Act now allow the federal government to keep any account worth no more than $500 (up from $100) that has been classified as dormant for at least 20 years.