Dormant and lost accounts
If you think you have lost touch with your account, or if we hold an account in someone else's name to which you think you may be entitled, then please get in touch with us.
Dormant and lost accounts
The process to reactivate your lost account or reclaim the balance is simple and full details are available in branch or you can use a free tracing service by visiting www.mylostaccount.org.uk . This is an official site set up by the British Bankers' Association (BBA), the Building Societies Association (BSA) and National Savings and Investments (NS&I).
It will help identify your account if you are able to provide any account documentation, such as an old statement, passbook or other correspondence relating to your account. We will also ask you to provide some information and documents relating to your identity and/or your entitlement to the account before your account can be reactivated or the balance paid.
Lost accounts are sometimes referred to as 'dormant accounts', as they have been inactive for some time and may be closed by us. This will mean that you will not be able to make transactions on the account until your account has been reactivated.
In assessing if your account is dormant we will consider if there have been any transactions through your account. We may not take into account activity on other accounts that you may hold with us or your access to our Online Banking service.
Accounts that have been dormant for an extended period of time may be included in the Unclaimed Assets Scheme described below.
Unclaimed Assets Scheme
We participate in the Unclaimed Assets scheme established under the Dormant Bank and Building Society Accounts Act 2008. The purpose of the scheme is to enable money in dormant accounts (ie balances in accounts that have been inactive or dormant for 15 years or more) to be distributed for the benefit of the community while protecting the rights of customers to reclaim their money.
Under the scheme, we may transfer balances of dormant accounts to Reclaim Fund Ltd (RFL). RFL is a not-for-profit reclaim fund that is authorised and regulated by the Financial Conduct Authority (No 536551).
If we transfer the balance of your account to RFL, you will have against RFL whatever right to payment of your balance you would have had against us if the transfer had never happened. However, we will remain responsible for managing all aspects of the customer relationship with you and for handling all repayment claims (which we will do on behalf of RFL). Therefore, you should continue to contact us in the usual way if you have any queries or complaints in relation to your account or balance.
Both we and RFL participate in the Financial Services Compensation Scheme (FSCS). The transfer by us to RFL of your balance will not adversely affect any entitlement you have to compensation from the FSCS.