Old bank account

toria27

Hi don't know where to post this so thought i'd try here have also posted on old style board.

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?

Many thanks

Sting_2

The money is still his to claim, he just needs to go into the bank and ask for it. They may require some further identification, but that all.

I had a building society account with the Nationwide Anglia (now just Nationwide) and it was a red hand-written book, left it dormant for about 10 years then realised and got them to transfer the money into another account.

As for growth, I wouldn't expect too much, at 5% (optimistic) for 16 years £29.65 would have grown to £64.72 before tax!

toria27

Thanks for reply. I will get him to go to the bank asap and transfer into his ISA even if it has only grown by a really small amount every little counts as it is money we didn't know we had.
Every penny count as we are saving for a cruise to Alaska for our honeymoon in 2008!