Making good with £400m of nobody's money

1st December 2007
By Angela Knight

It is estimated that up to £400m may be sitting in Britain’s bank and building societies without a traceable owner. For reasons ranging from family break-ups, house moves or simply absent-mindedness, many thousands of people have lost track of cash which, while still remaining theirs, sits in banks and building societies awaiting reclaim.

The Dormant Bank and Building Society Accounts Bill announced in the Queen’s Speech aims to release some of this cash for use in…