Do you have thousands in the bank that you never knew about?
Hannah Walsh, 1st August 2017, Household
Turns out there is a staggering £850 million just sitting in forgotten British bank accounts, according to recent estimates. It’s a lot of money and some of it could be yours…
In fact, the Independent reported that ‘the Government has even started using money from accounts that have been dormant for 15 years – don’t worry if one of them is yours though, you should still be able to get the money back.’
So how can I find out if I have a lost bank account?
The first thing to do, is to head over to mylostaccount.org.uk.
A website brought to you by the British Banker’s Association, the Building Societies Association and National Savings and Investments. They represent most of the firms that offer savings and current accounts in the UK, so it’s a great place to start.
Simply ‘start a search’ and then fill out the forms online. You can also download the forms to print them, should you prefer to apply by post. Once you have completed the application form, the search will begin!
“Searches with banks and building societies can take up to three months...and are only as successful as the information provided.”
The website states:
“Searches with banks and building societies can take up to three months as they can involve institutions having to search very old records on the basis of outdated or partial information… searches are only as successful as the information provided.” - My Lost Account
If you think you may have an old account open, but cannot for the life of you remember when you last checked the account or even remember using it. It is probably worthwhile filling out the form and applying for a search.
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