{"id":112,"date":"2007-07-28T12:52:42","date_gmt":"2007-07-28T12:52:42","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/savers-told-to-claim-lost-435m\/"},"modified":"2007-07-28T12:52:42","modified_gmt":"2007-07-28T12:52:42","slug":"savers-told-to-claim-lost-435m","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/07\/28\/savers-told-to-claim-lost-435m\/","title":{"rendered":"Savers told to claim ‘lost’ \u00c2\u00a3435m"},"content":{"rendered":"\n\n
<\/td>\n<\/tr>\n<\/table>\n

Attempts are being made to reunite savers with \u00c2\u00a3435m of unclaimed money that has been sitting in dormant accounts for years.<\/span><\/strong> <\/span><\/span><\/p>\n

National Savings and Investments (NS&I) – which is backed by the Treasury – has launched an advertising campaign to help people trace their cash. <\/span><\/span><\/p>\n

Some of the money dates back to 1861 but a dormant account is any one that has been ignored for at least 15 years. <\/span><\/span><\/p>\n

One investor has had \u00c2\u00a3184,000 sitting in an account since at least 1990. <\/span><\/span><\/p>\n

The last contact he had with NS&I about his investment account was from an address in Manchester. <\/span><\/span><\/p>\n

‘Dusty ledgers’<\/span><\/strong> <\/span><\/span><\/p>\n

The campaign has been launched as efforts are stepped up among banks and building societies to help people trace dormant accounts. <\/span><\/span><\/p>\n

But NS&I – formerly known as National Savings – is not part of government plans to use unclaimed money from abandoned bank accounts to fund youth and community projects. <\/span><\/span><\/p>\n

The scheme is part of a 10-year strategy for young people. <\/span><\/span><\/p>\n\n\n
<\/td>\n<\/td>\n<\/tr>\n<\/table>\n

That money will be used by the government, but can still be claimed at any time by customers who still legally own the cash. <\/span><\/span><\/p>\n

NS&I said any account with more than \u00c2\u00a31 in it will still be gathering interest. <\/span><\/span><\/p>\n

Some accounts are so old employees have to manually calculate the interest and enter the figures into “dusty old ledgers”, their spokesman said. <\/span><\/span><\/p>\n

There is no time limit on making a claim. <\/span><\/span><\/p>\n

The group said the most common reason people lost track of their accounts was moving house and not passing on their new address. <\/span><\/span><\/p>\n

Other money had gone untouched because people had died and their executors had not realised they had an account. <\/span><\/span><\/p>\n

Between April and June 2007 NS&I received 196 pre-1971 passbooks which had to be converted to decimal, the oldest of which was opened in 1924. <\/span><\/span><\/p>\n

Application forms for the tracing service are available at www.nsandi.com or by calling 0845 964 5000. <\/span><\/span><\/p>\n

The British Bankers’ Association (BBA) and Building Societies’ Association (BSA) also provide free tracing services for forgotten funds. <\/span><\/span><\/p>\n

Details can be found through the BBA website or by calling 020 7216 8909, and details about the BSA scheme can be found at www.bsa.org.uk. <\/span><\/p>\n

\u00c2\u00a0<\/span><\/p>\n

Source: BBC.co.uk<\/span><\/span><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Attempts are being made to reunite savers with \u00c2\u00a3435m of unclaimed money that has been sitting in dormant accounts for<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[16,48],"tags":[],"class_list":["post-112","post","type-post","status-publish","format-standard","hentry","category-finance","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=112"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/112\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}