Unclaimed Assets Within the Financial System

"We applaud plans to release truly unclaimed money and put it to good use. Our members are fully committed to working closely with the Government to make the unclaimed assets scheme a success. It will be for the Government to ensure the money makes a positive difference in the community."

"As the committee acknowledges, we are already making significant efforts to reunite customers with funds in dormant accounts. We have boosted our campaign in the run-up to the unclaimed assets scheme, leading to a 30-fold increase in claims through the BBA."

"We agree with the need to make it simple for customers to claim. The BBA's central re-claim team is now handling 400 claims a day, often helping claimants who do not know which bank holds their funds."

"We are working closely with the Building Societies Association and National Savings & Investment towards a seamless, integrated claims process, to be in place before the unclaimed asset scheme begins."

Related Links

BBA's Dormant acounts area (External Link)

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