25 October 2007
A new account service, which aims to reunite customers with their lost assets, has been launched.
The UK's second-largest savings provider Nationwide said that it will be contacting 24,000 of its members by mail, telling them that they might have money to claim.
This follows a similar scheme from Halifax launched earlier in the year, which contacted customers who owned a bank account which had grown 'dormant' through not having been used for some years.
Nationwide claimed that over £42 million is resting in its own dormant accounts - which can be easily activated again by customers contacting their local branch and providing proof of ID.
Stuart Bernau, Nationwide’s Executive Director, said: "By contacting Nationwide members who have not transacted on their banking or savings account for over 15 years, we hope to increase the number of people reunited with lost or forgotten money.
"There is an online form available on the Nationwide website, which will make it easy for our members to rediscover any forgotten accounts."
The savings provider's scheme, which will begin next week, comes ahead of the government's Unclaimed Assets campaign - which aims to see all UK dormant accounts holders re-united with their money.
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