HSBC reunites customers with £10.4 million

HSBC has reunited customers with £10.4 million held in lost or forgotten bank accounts.

The bank, which started searching out owners for unclaimed funds in September 2008, said over 7,000 customers have been reunited with dormant accounts.

The average money in each account was £1,400.

People in London are the most forgetful about money left in bank accounts, with over £7 million still to be claimed.

Scots are the least likely to leave an account dormant. Just £200,000 lies dormant in the accounts of HSBC’s Scottish customers.

“We are delighted that we have been able to reunite so many of our customers with their money,” said Brendan Cook, HSBC spokesperson.

“Whether the account has a balance of £5 or £5,000, it is important that we continue to try to trace these customers so that we can make them aware of what is rightfully theirs.”

When HSBC is unable to trace account owners, the money will be transferred to the government’s dormant accounts scheme, once it is set up.

Discuss this in the Finance Markets forums

Story link: HSBC reunites customers with £10.4 million