MyLostAccount facility

Kevin_Clark_54

I opened a building society account for my son many years ago but ceased using it when it (now a bank) closed its local branch. I received a letter a few months ago from their nearest branch 12 miles away asking me to review the account. When I visited that branch the manager told me the funds had been transferred to MyLostAccount, even before the letter was sent!
So I made an on-line application and received an acknowledgement stating that a reply could take up to 12 weeks. I have now waited 15 weeks wiithout reply. I tried phoning them, the number quoted on their acknowledgement was out of date but I have found another (0203 9340329) which is just an answering service and you never get a reply.
I'm wondering if the whole thing is a scam. What can I do? Advice please.

Malthusian

It's not a scam so this appears to be a case of inefficiency.

I would try, in order:

1) Ringing them in the morning when the lines may be less busy
2) Sending a formal letter of complaint by Recorded Delivery
3) Contacting the national newspapers' "money troubleshooter" columnists
4) Contacting your MP

Kevin_Clark_54

Thank you for your reply, Malthusian.
1) nearly all my calls are in the morning, including this morning. I never get on a waiting list for a phone conversation, just go straight to a recorded message;
2) I don't have an address for this organisation, just a website with phone numbers, and a no-reply e-mail. Unless you were thinking of the Financial Ombudsman, which takes even longer.
4) this was at the back of my mind, so I'll do this (unless anyone has any other ideas)

Zanderman

If you name the organisation it might help you get more useful replies.

G_M

Zanderman wrote: »

If you name the organisation it might help you get more useful replies.

The British Bankers' Association, the Building Societies Association and National Savings & Investments (NS&I) have a joint venture, My Lost Account, which replaces their separate account tracing tools.



Addresses are here:
http://www.mylostaccount.org.uk/contactus.htm

Malthusian

Kevin_Clark_54 wrote: »

2) I don't have an address for this organisation, just a website with phone numbers, and a no-reply e-mail.

From http://www.mylostaccount.org.uk/contactus.htm:

Manager, Dormant Accounts
UK Finance
5th Floor, One Angel Court,
London EC2R 7HJ

There are a couple of other addresses for lost building society and NS&I accounts, but as your provider was most recently a bank I would start with that one.


As far as I know the Financial Ombudsman doesn't apply to this service.

Kevin_Clark_54

Thank you for your info about MLA, Malthusian & G_M. The bank in question merely gave me an e-address and I was unaware of their website.
Having now perused it, it is quite disappointing for an organisation like this that they have blatantly broken one of their key pledges (no.7). I'm glad I've referred this to my MP not just for my son's benefit but as a matter of principle.