A quarter of a billion pounds left in accounts says investment provider
February 6, 2008 by admin
Filed under News, News-Banking
A new initiative has been launched to reunite consumers with their lost bank accounts after it was announced that an estimated quarter of a billion pounds has been forgotten. 
National Savings and Investments said that the main reason for money being left in accounts is moving house.
Ayesha De Silva, online manager for NS&I, said: “People often hold an account with two or three different providers over the course of a lifetime and when they move house, it’s the simple fact they forget to tell all the relevant people.”
She added that this situation is exacerbated by every move that a person makes meaning that the funds can just “sits there for years and years and years”.
In research carried out by TNS Phonebus last year, national statistics show that ten per cent of people believe they have lost savings they had as a child.
Only 26 per cent of these people have tried to reunite themselves with their lost money.
