Aug 10 2007
Britons with long-term savings and investment plans have been advised to keep an eye on their finances to ensure their accounts do not end up forgotten and dormant.
National money education charity Credit Action predicts that older Britons are perhaps more likely to have such accounts, as they may have invested their money to save for retirement a long time ago.
Chris Tapp, deputy director of the firm, said: ""I would imagine that the majority of money in dormant bank accounts belongs to people who are fairly elderly.
He added that it is "easy to imagine" investing money for retirement in a long-term account and forgetting it 15 years or so later.
Mr Tapp advised Britons of all ages to get in touch with their bank if they think they might have a savings account containing funds that they might otherwise lose forever.
Earlier this month, the National Consumer Council backed a report from a Treasury select committee report on unclaimed assets calling for measures to make it easier for Britons to retrieve their money from dormant savings accounts.
