Escheatment is the legal process of reporting and turning over unclaimed money — like uncashed cheques — to the government after it sits dormant too long. PaymentsNow helps you find, notify on, and reconcile those payments across cheques, ACH, and digital payouts, with audit-ready reporting, optional dormant-fund custody, and compliant filings.
Uncashed cheques, returned payouts, and abandoned balances don’t simply disappear — they accrue obligations, due-diligence deadlines, and provincial filing requirements. PaymentsNow gives you one place to surface those items early, work them through to resolution, and produce the paper trail an examiner expects, so unclaimed property never turns into an unwelcome surprise.
Three ways to run unclaimed-property and escheatment work, from fully self-directed to fully managed.
Flag uncashed or returned payments automatically from internal reports or uploaded bank data.
Send due-diligence letters or email notices well ahead of dormancy deadlines.
Void, reissue, resend, and correct addresses with the full action history preserved.
Optionally park unclaimed balances in a dedicated Dormant FBO for segregated custody and cleaner books.
Produce filing-ready unclaimed-property and escheatment reports formatted for each jurisdiction.
Reconcile every activity with full visibility — mailings, returned items, and status tracked in detailed logs.
High volumes, tight controls, and reconciliation that stays clean no matter the scale.
Embed unclaimed-payment workflows without engineering a new system from scratch.
Resolve returned cheques, unclaimed benefits, and claimant address changes with a full audit trail.
Manage dormant winnings, unclaimed player payouts, and returned mail without the manual grind.
Keep unredeemed rewards, loyalty balances, and expired rebates organized in one place.
Serve a roster of clients while keeping crisp, separate audit trails for each one.
We plug into whatever you already run — connect by API, drop in files, or feed us bank reconciliation data directly. The platform follows each payment on its own, whether funds sit in our FBO accounts or your own, flags dormant items, and runs the full escheatment lifecycle without interrupting your existing workflows. Onboarding usually takes a few weeks depending on how complex the integration is.
We provide three tiers of filing support: a self-serve tier where you export jurisdiction-ready data for your own compliance team, a prepared tier where we draft each report for you to review and file, and a fully managed tier where we handle the reports, the filings, and the correspondence with each authority. Our system applies the correct dormancy periods and requirements for each Canadian province and territory, so you stay compliant wherever your payees live.
Every action in the platform writes an immutable, timestamped log capturing the user and the full transaction history. Our SOC 2 Type 2 environment preserves complete documentation from the moment a payment is issued to the final report. All due-diligence letters, returned-mail records, and claim activity are recorded with a full trail you can hand to an examiner or your internal audit team.
Cut escheatment risk, keep filings current, and walk into any audit with the full history already assembled.