The Government has just set out plans for a “Big Society” bank that will help charities and other groups run public services, and will be funded by some of the “lost” millions lying dormant in bank and building society accounts. There is an estimated £500 million in unclaimed assets.
Is any of that unclaimed money yours? Now it is easy to find out. The free website mylostaccount.org.uk helps customers track down any forgotten funds. The site - a group venture by the British Bankers’ Association, the Building Societies Association and National Savings and Investments — allows you to enter your information to search for any lost money held in any of 43 banks, 52 building societies plus any NS&I product (including premium bonds).
You enter your details, including past addresses, then tick any institutions you think you might have money with, and the trade groups then search for any missing money, before emailing you the findings.
Other missing funds can also be tracked down. The Government offers a free pension-hunting service at thepensionservice.gov.uk. For old unit trusts, visit investmentuk.org.