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Topic: Re:Re:Re:Money in Dormant Accounts
Posted by: Bernard Allen
Date/Time: 19/12/15 14:25:00

In November 2008 the government passed the Dormant Bank and Building Society Accounts Act. One of the major principles of the act is to reinvest unclaimed money back into the community. So what exactly does this mean for those who are looking to reclaim their lost money?

Dormant Bank Accounts and Unclaimed Assets
In banking terms a bank account is dormant if there has been no customer activity within a set time period; usually between three and 15 years. Most banks will write to customers asking if they wish the account to remain active. However, in a number of cases banks will not be able to reach customers due to reasons such as moving home or name changes. Customers can still reclaim money in dormant bank accounts even if the money has been redistributed under the Dormant Bank Account Act.

Entire Thread
TopicDate PostedPosted By
Money in Dormant Accounts19/12/15 09:39:00 Philippa Bond
   Re:Money in Dormant Accounts19/12/15 10:59:00 Claire Moran
      Re:Re:Money in Dormant Accounts19/12/15 13:56:00 Brian Coyle
         Re:Re:Re:Money in Dormant Accounts19/12/15 14:25:00 Bernard Allen
            Re:Re:Re:Re:Money in Dormant Accounts19/12/15 15:20:00 Claire Moran
               Re:Re:Re:Re:Re:Money in Dormant Accounts19/12/15 20:20:00 Philippa Bond
                  Re:Re:Re:Re:Re:Re:Money in Dormant Accounts19/12/15 21:19:00 Mark Perry

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