‘How can I find my lost bank accounts?’

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Piggy bank with magnifying glass

 

It isn’t unusual for many of us to open several bank or savings accounts as we get older. We might use one or two as our main accounts and as for the rest, they join the realms of the lost bank accounts.

 

How do I know if my bank account is lost?

The usual reason for losing bank accounts is due to moving home and not updating your account provider with your new details. An account is only considered lost when there has been no activity on your account for a considerable period of time (generally three years for savings accounts and one year for current accounts), and your account provider has not been able to contact you in order to discuss it.

 

How do I trace my lost bank accounts?

You can search for lost bank accounts online at www.mylostaccount.org.uk which was set up by the British Bankers’ Association, the Building Societies Association and National Savings and Investments (NS&I) in order to allow people to track down their old bank and savings accounts. The service also allows you to check for unclaimed Premium Bond prizes you may have won.

While searching online is quicker the service also allows you to download and print a form to find lost accounts which you can complete and send by post, if that is what you prefer. Lost share certificates can be found with the help of solicitors such as Prosperity Law

 

What if my lost account is overseas?

Even if your lost account is from an overseas bank mylostaccount.org.uk may still be able to trace it if they have branches in the UK. Documents from abroad might need to be authenticated through legal channels such as Prosperity Law Notary Public Services.

 

What happens after I begin my search for my lost account?

Even when your account was considered ‘lost’ the bank will have kept a record of the account. Once you have completed the forms (either online or by post), each bank you have identified will examine its records to see if your details match any they hold. If further information is required you will be contacted, and you will be informed of the outcome of your application to trace your lost accounts within three months.

 

What happens if my application to trace my lost account is successful?

Any funds which had remained in your account are still your property. You will be able to have any money paid to you along with any interest it would have earned.

 

How much will it cost me to find my lost accounts?

Nothing. Mylostaccount.org.uk will not charge a penny for the service. It is completely free to use. Steer well clear of any third parties which offer to trace your lost bank accounts on your behalf in exchange for a fee.

 

Where can I find more information on finding my lost accounts?

Click here to download the PDF booket from Mylostaccount.org.uk which addresses any more questions you may have. Alternatively, check out the information on their website.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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