National Savings & Investments seeks to reunite savers with their cash

Fri, 08 Feb 2008

Attempts are being made to reunite people with around £750 million that is sitting dormant in savings accounts .

National Savings and Investments says that it has launched a new website, mylostaccount.org.uk, aimed at reuniting people with money they may have invested in accounts and then forgotten about.

Ayesha De Silva, online manger for National Savings and Investments, said that as people have savings accounts with several different providers it was easy for some to forget to let one bank know of any change of address.

She explained: "And then you move house a few more times and it gets even further back in your memory and [the money] just sits there for years and years and years."

Ms De Silva said that there was around £460 million in National Savings and Investment accounts, £300 million in banks and around a further £150 million in building society savings accounts.

A survey carried out by TNS Phonebus last year found that ten per cent of people believe they have lost track of savings accounts they had as a child.
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