Old Savings Accounts

luv_my_brass

Whilst having a clearout recently, I found an old Post Office savings book and a Norwich & Peterborough one.
I can undestand now why, when you come to close an account, you are encouraged to keep it open by leaving in a small amount. There has been £1.09 in the P.O. Book since 1986 - I wonder how much that has grown into in 22 years???? And how many million other savers were encouraged to do the same thing and then threw away the books? Do you think this account will still be valid?
According to my N & P paying in book, £5.23 was left in there in Feb. 1990 - how much would that have grown into I wonder?
I would appreciate Martin's comment on this situation. Perhaps he could ask the viewers of his TV Show to search out those old pass books and see how much is languishing in those old accounts.:cool:

Meltdown_2

Well, according to a BBC webpage in Dec 2005, it was then estimated that there was £15M sitting in dormant bank accounts.

Edit:
But this afternoon (18 April, BBC Radio 4, 'You and Yours') they said there was £900M in dormant accounts. That's a massive change in less than 3 years.

luv_my_brass

Meltdown wrote: »

Well, according to a BBC webpage in Dec 2005, it was then estimated that there was £15M sitting in dormant bank accounts.

Hi Meltdown - I can roughly calculate that mine isn't worth much today, and probably wouldn't bother asking for it back, but would be happy to see it, and that £15m being put to good use in some way.

Paul_Herring

If they're anything like Northern Rock (pre-run) then there won't be a lot in there. NR kindly decided to charge annual 'admin fees' to my ~£20 balance (as was back in 1998) to bring it 'up to' £3.50 last year when I closed it.

I was not pleased.

luv_my_brass

Paul_Herring wrote: »

If they're anything like Northern Rock (pre-run) then there won't be a lot in there. NR kindly decided to charge annual 'admin fees' to my ~£20 balance (as was back in 1998) to bring it 'up to' £3.50 last year when I closed it.

I was not pleased.

:eek: OO-er maybe I should consider myself lucky that I haven't received a bill for 'admin costs' then!