A building society offers savings accounts and mortgages as its primary business. They are mutual institutions, meaning those with savings accounts or mortgages also enjoy an ownership interest. Note because of this ownership interest and the fact many building societies have recently demutualised, account owners may be entitled to receive a windfall in the form of cash and/or shares.
The BBC reports up to £15bn is held in dormant accounts. An account is considered dormant when a bank or building society loses contact with the account holder for a period of years. Did you or a family member have unclaimed money at a bank or building society that moved, changed its name or closed? Don’t assume that because your branch no longer exists that unclaimed balances are lost forever. Your account may have been transferred to a successor institution.
Over the years hundreds of UK banks and building societies have closed, change name, or merged with other institutions. The Bank & Building Society Account Search Service offers an online search to determine what became of a bank or building society, and provides contact information for the institution or its successor, as well as a sample letter of enquiry for dormant accounts.
Note that if you are trying to trace lost accounts in Abbey National, Alliance & Leicester, Birmingham Midshires, Bradford & Bingley, Bristol & West, Cheltenham & Gloucester, Halifax, Leeds Permanent, National & Provincial, Northern Rock, TSB or Woolwich, you must contact the British Bankers Association.
You can trace missing Ulster savings certificates direct through the Northern Ireland Department of Finance and Personnel. Download a form and contact details at http://www.dfpni.gov.uk/index/finance/ulster-savings-certificate.htm
Dormant and Unclaimed Bank Accounts | |
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| BBA Dormant Account Unit Pinners Hall, 105-108 Old Broad Street London EC2N 1EX Tel: +44(0) 20 7216 8909 | Trace a lost bank account MyLostAccount.org Bank & Building Society Mergers |
Building Societies Association (BSA) Lost Accounts | |
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| Lost Account Scheme The Building Societies Association York House, 23 Kingsway London WC2B 6UJ http://www.bsa.org.uk | Trace a lost Building Society Account Online Lost Account Inquiry Reclaim Funds from a Dormant Account Trace a lost account at a Building Society which no longer exists |