Millions of RBS customers to benefit from bank charge cuts

Starting from next month around twelve and a half million RBS current account holders are set to benefit from bank charge cuts, with the bank announcing that it is going to be cutting charges on millions of accounts. Read more

Tags: rbs bank charges, Bank charge, cut, money, bank fees, account holders, Banking, bank charges

Forgotten about money ‘can be reclaimed’

People who with lost or forgotten about funds should reclaim them by contacting their bank, an industry expert has said.

According to Jason Clarke, a spokesperson for Halifax, many people have money they have forgotten about or lost the details of when changing address, for example.

However, he advised that reclaiming the money is simple, as account holders can simply notify their bank of any changes to their personal details and they will be giving help in locating their money.

“Loss happens for a lot of different reasons. The majority of these accounts will have very little money in them – the overwhelming majority will have small amounts, £100 or less,” said Mr Clarke.

He added that occasionally the amount of lost money is “sizeable”, but that there is usually a “good reason” for this such as the death of someone with no will, or in some cases no surviving family.

The British Bankers’ Association states that, this year, the number of people looking on their dormant account search pages has risen to around a quarter of a million, with 20,000 consumers having made claims.

Tags: address, personal details, surviving family, money loss, account holders, Banks and Institutions