BBA: Dormant accounts can be 'reactivated'

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BBA: Dormant accounts can be 'reactivated'

Tue 10th Apr 2007

The British Bankers' Association (BBA) is calling upon consumers to reactivate their old accounts which have become dormant.

The advice follows reports that the government could be set to use money from accounts which have not had any transactions for more than 15 years.

According to the BBA, there are a number of different reasons why an account can become dormant, although the most likely reason is when consumers forget to inform a bank of a change in address details.

For those people who are looking to retrace old accounts, the BBA offers a free tracing service, which can be accessed through the group's website.

A customer helpline can also be utilised in an attempt to retrace the steps of former funds.

Angela Knight, chief executive of the BBA, says: "However long it may have been since you last used your account, you can always reactivate it by contacting the bank where your account is held.

"It might not be a huge nest egg but it's your money and you're entitled to it," she added.

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