If you have moved house or have failed to keep track of information on your financial dealings, you could be one of the thousands of people who have money languishing in forgotten accounts.
Don’t forget Premium Bonds
If you purchased Premium Bonds in the past, you may be a lot richer than you think. National Savings & Investments (NS&I), the Government-backed bank, estimates that there are more than 430,000 unclaimed Premium Bond prizes worth between £25 and £25,000. You can use NS&I’s prize checker service at www.nsandi.com to see if you are a winner. In addition to Premium Bonds, NS&I offers a free tracing service for savings accounts. A tracing service form can be downloaded online or requested on 0845 9645000.
How to trace old bank accounts
The British Bankers’ Association (BBA) and the Building Societies Association (BSA) both run free services to help you to trace forgotten current and deposit accounts. Bank account holders can call the BBA helpline on 020-7216 8909 or visit www.bba.org.uk. For building society deposit accounts, call 020-7437 0655 or download a claim form at www.bsa.org.uk.
Old pension plans and insurance policies
Owners of an old pension scheme can trace their holdings through the Pension Service. Call 0845 6002537 or visit the website at www.thepensionservice.gov.uk.
If you hold an insurance policy from a company that no longer exists, you can call the Financial Services Authority helpline on 0845 6061234. The Association of British Insurers (www.abi.org.uk) has a consumer support service on 020-7216 7455.
The Unclaimed Assets Register (UAR) houses a database that enables people to trace unclaimed life policies, pensions, share dividends or unit trusts. Visit the UAR website at www.uar.co.uk or call 0870 2411713. The UAR will charge an £18 fee to carry out a search.
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