Halifax returns £16.6 million 'lost cash'

www.moneynews.co.uk > General finance > Halifax returns £16.6 million 'lost cash'

Halifax returns £16.6 million 'lost cash'

Wed 30th Jul 2008

Halifax has said that it has reunited thousands of customers with millions of pounds which had been left in unused accounts.

The Press Association reports its claim to have returned an average of £2,326 to more than 7,200 people, totaling £16.6 million after a drive to find owners of dormant accounts.

Tony Wilcox, head of savings, said the group was "pleased with our reunification progress so far" but added that "we do however still have lots to do".

According to the savings provider, 68 per cent of unused accounts worth more than £50,000 have now been reunited with their holders.

Halifax also intends to launch the second phase of its campaign in September. This will mean trying to find the owners of 152,000 accounts worth £30.6 million in total.

The company began its search for 25,000 dormant accounts in February, using global information services company Experian.

Since March 2007, it has reunited customers with over £14 million (33 per cent) of the money in its dormant banking and savings accounts.

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Halifax
	Halifax reveals affordability boost for first-time buyers
	UK house prices fall in August, says Halifax
	People pay out 7m per year due to 'cowboy' traders, claims Sainbury's
	Tighter times mean British households go bargain hunting, claim Halifax
	Halifax announces longest ever balance transfer credit card deal
	Lenders see ten-month high in first-time buyer mortgages
	First Direct launches new fixed-cap tracker mortgage
	Housing affordability for first-timers at 8 year high, claims Halifax
	NLA survey reveals landlords jittery over possible rate increases
	Halifax: Not enough people are saving for home deposits