BANK ON IT

Brits can claim £147million of forgotten cash in dormant bank accounts

BANKS donated around £147million of your forgotten cash sitting in dormant accounts to charity last year - but you can claim it back.

Dormant accounts are ones that haven't been touched in 15 years.

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Banks donated around £147million of customers' forgotten cash to charity last yearCredit: Alamy

After this, your bank is allowed to transfer the cash to the so-called Reclaim Fund Ltd, which redistributes the money to charity through the National Lottery Community Fund and other causes.

Banks can do so if it can't contact you - for example, if you've moved house and forgotten to update your contact details.

According to the fund's latest annual report seen by The Sun, banking giants including Barclays, Bank of Scotland, HSBC, NatWest and Santander donated £147.1million of customers' cash in 2019.

This represents a rise of £36.5million from 2018.

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 to forward the claim to the relevant banks with minimal administration and assists the internal search.
  • Remember that an account opened many years ago may not have been in your current married name. Also, note that the account may have been opened while you were at a previous address.
  • If known, give the sort code and account number.
  • Accounts opened by parents and grandparents on your behalf may be jointly in their names; where relevant, they may also be in your maiden name.
  • If the account holder is still alive it will need to establish that you have their express authority to undertake the search and/or the appropriate legal authority.
  • If you live overseas and don’t visit the UK, or cannot otherwise visit a branch, special arrangements may need to be made in support of your proving your ID.
  • You can make a quick and ready search for outstanding NS&I Premium Bond prizes online using the prize checker at 
  • Do not pay a fee of any kind to undertake the search for your old bank, building society or NS&I account. This service is FREE if you apply direct to the institution concerned or through this website ()

    • Simply set up an account with your email address and complete the search form with as much information as you can about the lost account.

    Just keep in mind that the search process can take up to three months so you're unlikely to hear back from them straight away.

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    If your lost account is found then you'll need to provide ID to prove that you have a legal right to the money.

    The account is then reopened and you can reclaim the lost funds, including any interest you may have accrued on it.

    If your bank won't agree the validity of a claim or is unable to find an account, you can complain to the Financial Ombudsman Service.

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    Earlier this year, The Sun spoke to one airport worker who found lost pension pots worth £21,000.

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    We've also explained how to track down lost pensions and investments.

    And last year a mum found her son, 13, has £800 in lost Child Trust Fund after The Sun helped them track it down.

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