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Attention drawn to `forgotten` money
29 November 2007
There is a lot of money sitting in bank accounts that has effectively been "forgotten" about, according to financial services provider Halifax.
Although the company suggests that the situation is not indicative of a lack of general financial awareness in the UK, people with debt problems may be alerted to money they did not know they had.
"Loss happens for a lot of different reasons. The majority of these accounts will have very little money in them - the overwhelming majority will have small amounts, £100 or less," said Jason Clarke, spokesperson for Halifax.
"In [some] cases, people move house and don`t update their bank with a change of name and address; they don`t get statements; and the account gets forgotten about that way."
Mr Clarke also indicates that anyone who believes they may have unclaimed assets should contact their bank and make their details known.
The Unclaimed Assets Register, a service provided by credit agency Experian, states that there is around £15.3 billion in unclaimed money currently sitting in bank accounts, pensions, shares and other areas in the UK.
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