Dormant/closed account

od244051

During the sorting out of my paperwork, I found an old savings account book from Halifax. Last transaction was 19 years ago next month. I doubt it was closed as they used to print "Account closed" or "Transferred to account (sort code and account number)"

Rang Halifax who could not find my details on their system - I have another product with them at my current address. Account was registered at my previous address. They said to go to a branch with photo ID and get it done there. I have no idea how long its going to take to find if its closed and how long it will take for the funds to be released either as a cheque or electronic transfer to another non Halifax account.

Ben8282

And the purpose of this post? Not sure what, if anything, you are asking.
I would suggest that you do as suggested and perhaps the branch staff will be able to advise you how long it will take to locate the account and release the funds to you.

jonesMUFCforever

od244051 wrote: »

During the sorting out of my paperwork, I found an old savings account book from Halifax. Last transaction was 19 years ago next month. I doubt it was closed as they used to print "Account closed" or "Transferred to account (sort code and account number)"

Rang Halifax who could not find my details on their system - I have another product with them at my current address. Account was registered at my previous address. They said to go to a branch with photo ID and get it done there. I have no idea how long its going to take to find if its closed and how long it will take for the funds to be released either as a cheque or electronic transfer to another non Halifax account.

If you gave them the sort code and account number and it is not on their systems then the account is closed.
I don't think banks or building societies insisted on you presenting a passbook to close an account whether in cash or to a different account. So its just a question of whether their records will go back sufficiently to show you where the funds went.
Don't expect the branch to be able to do much.

Neil_Jones

Might be of interest:
https://www.gocompare.com/money/dormant-bank-accounts/

In particular this bit:

https://www.gocompare.com/money/dormant-bank-accounts/ wrote:

If money goes unclaimed for 15 years or more, it can be collected by the Reclaim Fund - https://www.reclaimfund.co.uk/ - This was established in 2011 by Co-operative Financial Services on behalf of the banking industry to administer dormant funds.

The Reclaim Fund collects money from bank or building society accounts that have been dormant for over 15 years and passes it on to the Big Lottery Fund to be allocated to good causes and social enterprises throughout the UK.

However, Reclaim Fund keeps back a portion to reimburse account holders who might come forward to reclaim their dormant funds in future.

Note that you can't recover money directly from the Reclaim Fund - this will need to be done by contacting your account provider and arranging it through them.