We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

old bank account

Hi, not sure where to post this so thought I would start here.

I was going through some of OH paperwork as he is so unorganised and I found an old bank account book, think it is a savings account. It's from 1990!! the last balance was only £29.65. It's a hand written paying in book it's that old lol.

I just wondered would this have grown by much and is there a rule about accounts being dormant for many years or is the cash still his to claim?

Mnay thanks

Comments

  • squeaky
    squeaky Posts: 14,129 Forumite
    10,000 Posts Combo Breaker
    Hi toria :)

    Erm, probably the best place to ask would be the Budgeting and Current accounts board - so I'll move you across.

    Good luck :)
    Hi, I'm a Board Guide on the Old Style and the Consumer Rights boards which means I'm a volunteer to help the boards run smoothly and can move and merge posts there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com. It is not part of my role to deal with reportable posts. Any views are mine and are not the official line of MoneySavingExpert.
    Never ascribe to malice that which is adequately explained by incompetence.
    DTFAC: Y.T.D = £5.20 Apr £0.50
  • If the passbook has the name of the bank or building society on it, I would contact them in the first instance. If it is one of the banks or building societies that have been merged into another, you may need to do a bit of research to trace the contact info for the new bank/building society. They should be able to provide you with some account information and confirm if the account is live, dormant, closed, etc.

    HTH
    "Bad planning on your part does not constitute an emergency on my part."
    - Proverb
  • Stompa
    Stompa Posts: 8,379 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    toria27 wrote:
    It's from 1990!! the last balance was only £29.65.

    I wouldn't get too excited. Even if you were to assume a constant compound interest rate of 5% between 1990 and 2006, it'd only have increased to around £65.
    Stompa
  • which building society/bank is it with - there is a leaflet out there asking people with dormant accounts to contact their banks
  • toria27
    toria27 Posts: 188 Forumite
    It is with the yorkshire bank. OH doesn't get much time off work to be able to go to the bank so don't know when he will get round to sorting it.
  • ohmsoft
    ohmsoft Posts: 280 Forumite
    Hi

    Check this out on the FSA website.
    http://http://www.fsa.gov.uk/consumer/updates/updates/dormant.html
    Should provide the information to get the ball rolling - I too calcuated you would be looking at the £50-£70 mark
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.