Halifax and HSBC seek dormant account holders

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Halifax and HSBC seek dormant account holders

Wed 10th Sep 2008

Refreshed efforts to find the holders of dormant accounts are being made by Halifax and HSBC.

The financial institutions are coming under a government initiative to reunite people with lost or forgotten money.

Under the scheme, which comes into effect next year, accounts that are not used for 15 years will be termed "forgotten" and their money passed to a government fund to finance schemes.

But the account holders can still reclaim the cash at any point.

HSBC said it has 12,000 customers with accounts that have not been used for over 15 years.

It is also actively trying to trace 5,000 account holders who do not live at the last addresses the bank has recorded for them.

According to HSBC, these 17,000 customers could reclaim more than £24 million.

Carlos Wanderley, general manager of HSBC customer propositions, said the bank is planning "a sustained campaign of correspondence, active tracing, advertising and publicity".

Halifax is urging customers to reclaim their cash as soon as they can.

A spokesperson said there was a "dedicated team of colleagues" helping people to check whether they had money to claim.

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