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Friday 30th of January 2009
January 29, 2009

Mylostaccount.org.uk proves popular with UK savers


by David Masters
Mylostaccount.org.uk proves popular with UK savers

An online tool that enables savers to locate forgotten or lost bank accounts is proving popular with Brits, according to National Savings and Investments (NS&I).

Launched in January 2008 by the NS&I in conjunction with the Building Societies Association (BSA) and the British Bankers’ Association (BBA), mylostaccount.org.uk has received 180,000 applications to search for lost money.

In the first month of launch, the site reunited customers with £10.6 million of lost money - more than the NS&I’s yearly average before the site was launched.

NS&I estimates there is still £850 million dormant in accounts across the UK, whilst one in ten Brits believe they have money in forgotten accounts.

BBA chief executive Angela Knight said: “When we launched mylostaccount.org.uk we hoped it would reunite record numbers of people with their money and it has more than surpassed our expectations.”

In related news, HSBC and Lloyds Banking Group are both running campaigns to reunite customers with dormant accounts.

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Story link: Mylostaccount.org.uk proves popular with UK savers


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