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Lost bank account from 1969

Pete1202
Pete1202 Posts: 2 Newbie
First Post
edited 18 April 2024 am30 8:24AM in Budgeting & bank accounts
I am (Removed by Forum Team) - Born on (Removed by Forum Team).
In 1969 a friend of the family set up an account in my name. I couldn't withdraw from it till I was 7 years old. it was forgotten about until my mum (now in her 80s) found the old bank book. there are just over 2 old pounds in there. The account was with Essex Trustee Savings Bank Currently trading as Lloyds Bank Plc. 
I have gone through mylostaccount.com - But they could not find my account, Other than the financial ombudsman what else can I do?
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Comments

  • Devongardener
    Devongardener Posts: 551 Forumite
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    edited 18 April 2024 am30 8:15AM
    You need to remove your full name and date of birth from your post asap.  You should not post any identifying information.
  • Poquito
    Poquito Posts: 82 Forumite
    Third Anniversary 10 Posts Name Dropper
    Hi Pete

    hope you are able to get your account sorted out. Unfortunately I can’t advise on this.

    however, for your own security you may want to remove your full D.O.B from the post and even your full name. Just go by Pete 1202. 

    The helpful people on the forum will still be able to advise and help you without your full name and d.o.b.

    Hoping you are able to edit your post.

    all the best 


  • Zanderman
    Zanderman Posts: 4,812 Forumite
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    edited 18 April 2024 am30 8:24AM
    Never post your full name and DoB on a public website! 

    As for the lost account, are you saying you're trying to trace an account that had just £2 (old or new, they're still pounds, decimalisation didn't change that) in it?

    Even with compounded interest at, for example, 4% that would only be about £15 today. A lot less with a lower rate. Is it worth the search? 
  • Admin has kindly removed the info. I didn't know how much it would be after 50 yrs . It was only 2 pounds but it would of been interesting how much that would be today.

  • sparky0138
    sparky0138 Posts: 554 Forumite
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    edited 18 April 2024 am30 9:48AM
    If you know that Essex Trustee Savings Bank is now Lloyds, have you tried taking the book into a branch? That's the first thing I would do and if they can't help then they might be able to advise.

    Many years ago I found an old book for a childhood account I had with a bank that had been taken over by Santander. I took it to them and they updated the interest (like yours, it only had a few pounds in it), then I made a withdrawal and they closed the account. It was really simple.
  • Zanderman
    Zanderman Posts: 4,812 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 18 April 2024 am30 9:48AM
    Pete1202 said:
    Admin has kindly removed the info. I didn't know how much it would be after 50 yrs . It was only 2 pounds but it would of been interesting how much that would be today.
    As I said above it might not be much, even after 55 years.

    But my 4% suggestion, taking it to about £15 now, was just a ballpark figure I conjured up, and that may be an underestimate. According to this website https://www.propertybeacon.co.uk/uk-interest-rates-history/

    UK Interest Rates History – 50 Years
    Let’s look over the last 50 years to see how interest rates have changed over time. 
    Right from the start of the 1970s all the way to the year 2000 the Bank of England interest rate didn’t drop below 5%.
    In fact, it only dropped below 5% in 2001 and the last time before that was in early 1964.

    Overall the average UK interest rate over the last 50 years from 1973 to 2023 is around 9.1%.

    9% would bring your £2 up to £228 now!  So maybe worth chasing after all.

    You can play with your own figures on various calculators online. Like this one (which I used for those calculations above):
    https://monevator.com/compound-interest-calculator/
  • boingy
    boingy Posts: 1,672 Forumite
    1,000 Posts First Anniversary Name Dropper
    This info is from accountdetective.co.uk.
    Worth a phone call I reckon:

    Your Account was originally issued by:Essex Trustee Savings Bank
    And is now administered by:Lloyds TSB (Lloyds Banking Group)
    Their Postal Address is:25 Gresham Street
    London
    EC2V 7HN
    Their Telephone Number is:0845 300 0000
    020 7626 1500
  • eskbanker
    eskbanker Posts: 35,318 Forumite
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    Pete1202 said:
    The account was with Essex Trustee Savings Bank Currently trading as Lloyds Bank Plc. 
    I have gone through mylostaccount.com - But they could not find my account, Other than the financial ombudsman what else can I do?
    Perhaps worth trying Gretel, if you haven't already?

    https://www.moneysavingexpert.com/reclaim/reclaim-lost-assets-free/#catch-all

    Presumably you've gone through the process outlined at:

    https://www.lloydsbank.com/current-accounts/unclaimed-dormant-accounts.html

    Ultimately, if they've concluded that they no longer have any evidence of the ancient account still being open (despite the existence of a passbook), even in a dormant state, then it seems unlikely that FOS will change their mind?
  • jimjames
    jimjames Posts: 18,286 Forumite
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    If that info is showing as it now being Lloyds TSB which doesn't exist anymore, is it possible that it moved to the TSB side of the bank when it was demerged? So that might be worth checking as well?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • wmb194
    wmb194 Posts: 4,285 Forumite
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    The thing is a passbook is not a bearer bond and it is possible to make withdrawals from accounts without them and, for instance, a passbook is reported as lost and it is replaced with another. Usually in these cases the money’s been withdrawn long ago.

    I’ve had passbooks for fixed rate savers that the BSs didn’t want to have returned and I had to make notes on/destroy them myself.
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