Can ANYONE help me with advice?

keithfen1999

Hi everyone,

I have just found an old Halifax 90 day xtra account savings book that is not stamped closed and has a balance of £11000.91

I went into the branch to enquire of the status of the account, and they could not find it on the system, and told me it was "probably" closed.

The saving book itself is not stamped or marked as closed, and in 1985, there was no internet banking or telephone banking, so SURELY the book would have been required to withdraw the balance and close the account??

It was an account set up as a fund for when I turned 18, in my mums name, and she has no recollection of withdrawing the cash!!!

I have a couple of questions:

Firstly, should I write to head office first and secondly, does anyone have an idea of the current value of this account with interest since 1985?

In '85, the account was earning £576 6 monthly in interest..

I'm hoping someone can point me in the right direction as what to do next.

Many Thanks,

Keithfen1999

hcb42

http://www.halifax.co.uk/savings/dormancy/

McKneff

If its in your mums name it will have to be her who chases it.

Unless she gives instructions in writing saying that she gives you permission to do so on her behalf.

And remember, if it is in her name, it is legally her money.

McKneff

Let us know how you get on please.

Porcupine

In 1985 the Halifax was a building society. They've been through at least one systems renewal since then, so I suspect the account may have been renumbered and fallen off the system.

They have some advice on what to do about dormant accounts:
http://www.halifax.co.uk/savings/dormancy/

Here's a compound interest calculator. That uses the Bank of England base rate, not the rate you'll have been getting on the account (could be much less). Putting the numbers in (setting 0% above base rate) gives about £60K... Does that sound sensible to other people - I know interest rates were a lot higher in the 80s but it seems a bit high to me!

opinions4u

keithfen1999 wrote: »

Hi everyone,

I have just found an old Halifax 90 day xtra account savings book that is not stamped closed and has a balance of £11000.91

I went into the branch to enquire of the status of the account, and they could not find it on the system, and told me it was "probably" closed.

The saving book itself is not stamped or marked as closed, and in 1985, there was no internet banking or telephone banking, so SURELY the book would have been required to withdraw the balance and close the account??

Reporting a book as lost would enable a transaction without the passbook. That would have lead to a new account being opened.

It was an account set up as a fund for when I turned 18, in my mums name, and she has no recollection of withdrawing the cash!!!

Almost certainly an IN RE account which means the legal ownership sits with Mum.

Firstly, should I write to head office

The link in other posts should help. Yes you should pursue it. At the very least they will be able to identify when the account was closed. But don't get your hopes up that there is money sat there waiting for you.

The funds were almost certainly transferred to a different account, at Mum's request. She will then have done whatever she has done with those funds.

keithfen1999

Hi again, I dont know how to quote replys, but here goes!

Q "Reporting a book as lost would enable a transaction without the passbook. That would have lead to a new account being opened"

My mum has had the passbook all these years and only found it yesterday, she is convinced she hasnt withdrawn the funds or transferred the money, as it was an account for my 18th birthday, which would have been in 1989.

Q"
If its in your mums name it will have to be her who chases it.

Unless she gives instructions in writing saying that she gives you permission to do so on her behalf.

And remember, if it is in her name, it is legally her money. My mum has drafted a letter to head office, and signed for me to act on her behalf, as if the cash is there, she deems it to be mine ( although I told her we would share any potential windfall! )

Im keeping fingers crossed that mylostaccounts.org can help after we recieve a reply from the Halifax

opinions4u

My mum has had the passbook all these years and only found it yesterday

So it was, at some point, lost.

she is convinced she hasnt withdrawn the funds or transferred the money, as it was an account for my 18th birthday

Yet she forgot to give you the money all those years ago. That is an exceptional oversight.

I'd suggest that this means Mum's memory is not to be relied on.

keithfen1999

Yet she forgot to give you the money all those years ago. That is an exceptional oversight.

I'd suggest that this means Mum's memory is not to be relied on.[/QUOTE]


My dad died 6 years ago, and my mum has only just found his old companys paperwork. The passbook was in that paperwork which has been in the attic for many years, so my mothers memory is not to be questioned....She simply didnt know it was there, she has full recollection of making deposits, but none of making a final withdrawal

At the time of the last deposit, my mum and dad divorced, and Im sure she had many others things to sort out.

I really dont think your last post helped any really did it?

Macca83_2

You need to persist. Since Halifax moved to the Lloyds system it is nigh on impossible to find old heritage Halifax products. The main offenders include instant savers, liquid golds and fixed rate bonds. You need your mother with you. Get the staff to search under your name and separately under your mothers name using all previous and current addresses. They may need to access the old Halifax system called enquiries, which New staff have no access to. Yes you may have the sort code and account number but this does not always work on the New system. Ridiculous but true

opinions4u

I really dont think your last post helped any really did it?

I'm sorry you think that.

My first post on the thread makes it clear that you should pursue it.

My subsequent post is worded in a way to dial down your excitement. You seem to think there is money sat waiting somewhere for you. From my 20 year experience of working in a Halifax branch there almost certainly isn't.

Something else has probably been done with that money. Not certainly, but probably. I've had savings accounts from three or four years ago I can't recall, let alone three decades ago.

It is possible that the account is sat dormant on the old Halifax computer system. Has Mum changed address since 1985?