What is a lost account?

Banks, building societies and NS&I wherever possible seek to keep in touch with their customers. If, however, an account has been inactive for an extended period, the account holding bank or building society will write to the customer asking them whether they wish the account to remain open.

If no response is received, the bank, building society or NS&I will stop sending correspondence and will class the account as “lost”. This ensures that financial details are not sent to what might be an old address. This reduces the risk of fraud and ID theft. It is not good practice to send statements, cheque books and other material to an out-of-date address, where someone other than you could try to access the account or use the correspondence for other fraudulent purposes.

The most typical cause of an account becoming lost is a change of address.

NB: Whilst the term “Lost Account” is used to describe this schemes function it is important to mention that banks only search for “Dormant” bank accounts. Therefore the search result may state “Not Found” but you have “Active” accounts with the bank you have ticked. This is because the search completed by the bank is from their records maintained in a database of “Non Active” or “Dormant” bank accounts only.

If you think you may have lost touch with your account or savings, this website will guide you through some simple steps to help reunite you with your money.