Old Abbey National account 21 November 2007 at 5:21PM in Savings & investments 21 replies 68.5K views

cycler_2

I have found an old Abbey National building society “share account”.
I had forgotten I had it until I was sorting through some papers.

There is only £5.00 in it from 1976.

Is it still valid and if so would it have attracted any interest over the years.

John

PBA

Fill in a dormant account form from http://www.bba.org.uk/content/1/c4/18/73/dormant_account_claim_form.pdf and send it off to them. Don't send them the passbook yet, they'll write back if they need it. They'll write back either telling you when the account was closed and where the money went, or how much it's worth now and how you can get it. Don't take it in to a branch, as the last transaction was over 6 years ago so it's unlikely they'll have any record of it on their live system.

cycler_2

PBA wrote: »

Fill in a dormant account form from http://www.bba.org.uk/content/1/c4/18/73/dormant_account_claim_form.pdf and send it off to them. Don't send them the passbook yet, they'll write back if they need it. They'll write back either telling you when the account was closed and where the money went, or how much it's worth now and how you can get it. Don't take it in to a branch, as the last transaction was over 6 years ago so it's unlikely they'll have any record of it on their live system.

Thankyou,
Will do.

Cheers
john

jxw100

I have also found an old Abbey National savings account book. The claim form web link shown above now no longers works.

Can someone help with a new/revised web link?

Thanks
John

barak

jxw100 wrote: »

I have also found an old Abbey National savings account book. The claim form web link shown above now no longers works.

Can someone help with a new/revised web link?

Thanks
John

The BBA site http://www.bba.org.uk/media/article/third-anniversary-of-lost-account-tracing-scheme has a link to http://www.mylostaccount.org.uk/

jxw100

Thanks Barak much appreciated.

andyrules

Sorry to tell you but you have no chance with any Abbey account if it has had no activity for more than 6 years.

I have just lost my case (and over £100) with the Ombudsman for an Abbey account from 2000. Because Santander are not legally obliged to keep records for more than 6 years they have written off all accounts falling into that category.

Nice little earner for them.

jxw100

Hi Andyrules

Did you have documentary evidence? i.e. the passbook?

Thanks
John

andyrules

Hi John
Yes I had a passbook, and Santander had NO records - but it was found in their favour as records don't have to be kept!!

ashteadgirl

I am very confused and worried about these tales about Abbey/Santander. May be naive but have found this in there t's and c's

Remember – any funds and interest accruing that you may have in a dormant account will always belong to you, no matter how many years have passed.
Unclaimed Assets Scheme
We will participate in the Unclaimed Assets Scheme, set up by the Government under the Dormant Bank and Building Society Accounts Act 2008. If you have not used your account for at least 15 years the balance will be transferred to a fund to be set up by the Government (Reclaim Fund). This fund has not yet been set up, but once it has we will start making transfers. You will always retain the right to reclaim your money.

Very surprised that you lost your case with the ombudsman and they get away with not keeping records. Seems like a licence to print money to me.
Would love to hear from other and perhaps more knowledgeable posters as to how they can get away with this

andyrules

ashteadgirl wrote: »

I am very confused and worried about these tales about Abbey/Santander. May be naive but have found this in there t's and c's

Remember – any funds and interest accruing that you may have in a dormant account will always belong to you, no matter how many years have passed.
Unclaimed Assets Scheme
We will participate in the Unclaimed Assets Scheme, set up by the Government under the Dormant Bank and Building Society Accounts Act 2008. If you have not used your account for at least 15 years the balance will be transferred to a fund to be set up by the Government (Reclaim Fund). This fund has not yet been set up, but once it has we will start making transfers. You will always retain the right to reclaim your money.

Very surprised that you lost your case with the ombudsman and they get away with not keeping records. Seems like a licence to print money to me.
Would love to hear from other and perhaps more knowledgeable posters as to how they can get away with this

What interesting T&Cs! I hadn't read that and I wonder if Santander or the Ombudsman have. After I drew a complete blank with Santander - terrible CS, no-one EVER rang me back after a year of visits, calls and promises to investigate. I went through the BBA initially, but they failed with Santander and recommended the Ombudsman.

Yes, I was surprised I lost - you would have thought the person with the evidence was in the strongest position. The fund you mention was not indicated by the Ombudsman, and I had a long chat with a nice young lady there who told me she was just following procedure laid down by the FSA. Banks are not obliged to keep records for more than 6 years, so apparently Santander destroyed all those at takeover.

The money was dormant as I thought that it would be good 'rainy day' money - wonder how many of those have been snatched by banks? If I'd set up a standing order of 1p per month it would have been safe.