Bank won't give back son's (6 year old) money

xylophone

You opened an account for your son with Lloyds Bank some six years ago and a four figure sum was deposited.

You had other accounts with the same bank.

At some point in the last six years you moved house and updated the address on all accounts but one, the child's account.

Presumably you were used to receiving account statements for this account through the post but perhaps only annually(?)- you simply did not notice that these statements were no longer arriving.

http://www.moneysavingexpert.com/reclaim/reclaim-lost-assets-free
"If the bank or building society send post, and it gets returned to them marked with an explanation that you don't live at that address anymore, they'll mark this on your account, and try to contact you through any other details they have.
Inactivity
Even if mail is returned, if transactions are still taking place in the account it's likely to remain open. However long periods of inactivity often cause accounts to be marked as dormant. The amount of time varies depending on the bank and the product; in general though current accounts are deemed 'lost' after about 12 months of no use, while savings accounts can be left for three to five years before the bank takes action."

See above - your son's account was marked dormant.

However, you have evidence of the account and the amount deposited.

The bank will help you, the money hasn't gone anywhere, it's not been stolen. All thats needed is a formal complaint, the bank have up to 8 weeks to respond. If they don't, you can take it to the FOS, you will get your money back.

See above.

agrinnall

spendaholiceejit wrote: »

I have deleted this post. I wish I had never asked or advice in the first place.

That seems a bit of an over-reaction given that you have been advised exactly what you need to do to get the issue resolved.

McKneff

Im actually surprised that no one has come up with 'why are you using your sons money to decorate the bedroom that he sleeps in'.

Hominu

McKneff wrote: »

Im actually surprised that no one has come up with 'why are you using your sons money to decorate the bedroom that he sleeps in'.

Maybe his son wants it decorated in his style and he's willing to pay for it?

shegirl

McKneff wrote: »

Im actually surprised that no one has come up with 'why are you using your sons money to decorate the bedroom that he sleeps in'.

That was actually the first question that crossed my mind:o

JuicyJesus

McKneff wrote: »

Im actually surprised that no one has come up with 'why are you using your sons money to decorate the bedroom that he sleeps in'.

Either:

1) You're being sarcastic and that is an unreasonable question to ask, which is your point

2) I'm being thick and it's a reasonable question to ask

Gentoo365

To the original poster:

Don't concern yourself with the fact that a few people may seem to be rude. While they do believe that you have not been overly polite about the bank, and may have exaggerated the banks actions there is no need for them to be equally rude to you.

It seems that you did get some good advice though, to contact the bank in writing, and you are doing this.

With banks the police cannot really help as it is rarely a criminal matter, instead the 'next step' should it come to that is the banks complaints department. Then if they do not respond as appropriate then the ombudsman. After than then the next step would be the courts, but it rarely comes to that as the ombudsman usually sorts it out.

For now just write to the bank and ask for their response.

CherlokHomes

As you've deleted your first post I'll have a go at answering anyhow!

Did you get a good description of the offender and what makes you think they work for a bank?

iAMaLONDONER

Innovate wrote: »

As you've deleted your first post I'll have a go at answering anyhow!

Did you get a good description of the offender and what makes you think they work for a bank?

Is this the old innovate?

iAMaLONDONER

spendaholiceejit wrote: »

I have deleted this post. I wish I had never asked or advice in the first place.

What was the original post?!