Lloyds TSB aims to reunite customers with £69 million of inactive savings
www.moneynews.co.uk > Banking > Lloyds TSB aims to reunite customers with £69 million of inactive savings
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Money News |
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Lloyds TSB aims to reunite customers with £69 million of inactive savings
Wed 18th Jun 2008
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Using specialist search agency Tracesmart Ltd, the bank intends to find customers with inactive accounts with balances over £100.
Cheltenham & Gloucester savings accounts are also being investigated.
Lloyds hopes to restore an average of £575 per customer, with one in ten accounts being worth over £1000.
Helen Weir, group executive director of UK retail banking at Lloyds said the accounts had been "long forgotten".
Lloyds customers can get more information at www.lloydstsb.com/dormantaccounts.
Economic secretary Kitty Ussher welcomed Lloyds' move and suggested customers visit www.mylostaccount.org.uk, which helps people find dormant accounts.
Halifax carried out a similar scheme last year, according to the BBC.
The government's Dormant Bank and Building Society Accounts Bill has its second reading next week.
It would move cash from dormant accounts to the Big Lottery Fund where it can go towards social and environmental projects.
But the BBC also reported that original account holders would always be able to reclaim all their money should they come forward.
Related News : Banking |
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Related News : LloydsTSB |
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