Savings - How do I access?

Lucywrix

Hi everyone, I don't know if someone can help me but it's worth a try.

My boyfriend rang Nationwide about 3 years ago (he would of been 19) about something. They mentioned to him that someone has quite a substantial amount of money saved for him in an account. Nationwide were unable to tell him how much money this was and who had it saved up for him. He has contacted Nationwide again today (now 22) and they still won't tell him any information. My boyfriend doesn't have much family and he doesn't speak to anyone. How is he meant to find out who has this money saved up for him? It's quite frustrating because that money would help him out a lot right now.

I appreciate there might not be a lot he can do, but worth a try. 

eskbanker

He should submit a Subject Access Request under the Data Protection Act, requesting disclosure of all personal data:

https://www.nationwide.co.uk/about/corporate-information/cookies-and-privacy/your-information-rights#tab:Yourinformationrights

Lucywrix

eskbanker said:

He should submit a Subject Access Request under the Data Protection Act, requesting disclosure of all personal data:

https://www.nationwide.co.uk/about/corporate-information/cookies-and-privacy/your-information-rights#tab:Yourinformationrights

Thanks so much, I have gotten him to fill it out. 

coyrls

I am sceptical that Nationwide would tell your boyfriend that an unnamed person had saved an undefined amount of money for him.  In what context did your boyfriend tell you that this had happened?  Have you lent him money?

barnstar2077

It does seem strange that they would just mention it in passing.  How would they know the money was for him unless it was in his name or a joint account?  Either way he would be allowed access surely?

colsten

barnstar2077 said:

It does seem strange that they would just mention it in passing.  How would they know the money was for him unless it was in his name or a joint account?  Either way he would be allowed access surely?

It could be held in trust until he is, say, 25? It is an odd story though, I agree,

Tim11111000111

colsten said:

barnstar2077 said:

It does seem strange that they would just mention it in passing.  How would they know the money was for him unless it was in his name or a joint account?  Either way he would be allowed access surely?

It could be held in trust until he is, say, 25? It is an odd story though, I agree,

Would Nationwide have any trusts like that? Most of their products seem to be fairly standard accounts, so any accounts opened in the name of a child should become theirs at the age of 18.

Lucywrix

coyrls said:

I am sceptical that Nationwide would tell your boyfriend that an unnamed person had saved an undefined amount of money for him.  In what context did your boyfriend tell you that this had happened?  Have you lent him money?

We went to the bank 3 years ago and his financial adviser mentioned he had an account. He said he wasn’t aware of it and asked her if there was much money in it and she said ‘quite a bit yes’ then when he asked her for more details she said she couldn’t say anything and apologised saying she thought he would if known. It is a very strange situation.

Lucywrix

Tim11111000111 said:

colsten said:

barnstar2077 said:

It does seem strange that they would just mention it in passing.  How would they know the money was for him unless it was in his name or a joint account?  Either way he would be allowed access surely?

It could be held in trust until he is, say, 25? It is an odd story though, I agree,

Would Nationwide have any trusts like that? Most of their products seem to be fairly standard accounts, so any accounts opened in the name of a child should become theirs at the age of 18.

This is what I thought. I’m not sure what else he can do.

eskbanker

If he submitted the subject access request a month ago (as above) then they should have responded by now - have they done so, and if so, what was the outcome?

Billycock

Lucywrix said:

coyrls said:

I am sceptical that Nationwide would tell your boyfriend that an unnamed person had saved an undefined amount of money for him.  In what context did your boyfriend tell you that this had happened?  Have you lent him money?

We went to the bank 3 years ago and his financial adviser mentioned he had an account. He said he wasn’t aware of it and asked her if there was much money in it and she said ‘quite a bit yes’ then when he asked her for more details she said she couldn’t say anything and apologised saying she thought he would if known. It is a very strange situation.

You were with your boyfriend at the Nationwide bank to see their financial adviser? Sounds plausible if so, but at the same time also sounds strange. Your boyfriend is a honest and trustworthy chap is he? doesn't have debts? supports himself? doesn't borrow from you etc?