News and Events

Tracking down the missing millions

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The news that up to £968 million is lying unclaimed in dormant bank, building society and National Savings & Investment Bank (NSIB) accounts, is particularly frustrating for anyone who is struggling to make ends meet in these tough financial times. A local solicitor is now calling for people to think hard about any money that they or their family may have lost track of – possibly following the death of a relative or a house move. "A dormant account is defined as one that's been unused for at least 15 years," says Danny Carter of Gepp & Sons in Chelmsford, "So it may have been completely forgotten." Following the launch earlier this year of, a web-based account-tracking service set up in a partnership between NSIB, the British Bankers Association (BBA) and the Building Societies Association (BSA), over 140,000 people have used it to track down their money. According to the NSIB, they alone have reunited customers with more than £41 million. "Using the service is certainly the first step to take," Danny Carter continues. "There can be cases, however, where a little more detective work is needed. For example, you may believe that someone else has staked an invalid claim to money in an account that you believe is rightfully yours or your family's. "In such cases, particularly if you believe that there might be some dishonesty involved, it could be sensible to talk to a solicitor or even to alert the police. Such cases are rare, but we would be delighted to talk through your situation if you have any suspicions – call us on 01245 228107. In the meantime, happy hunting!" - ends - Notes to Editors: • For additional information or comment please contact: Danny Carter of Gepp & Sons.