£78BN is lacking in property… and a few of it might be yours!

  • Billions of kilos price of unclaimed property sit in misplaced or dormant accounts 
  • 3 in 10 adults admit they might have cash gathering mud in an outdated account

A staggering £78 billion of unclaimed property is languishing in long-forgotten financial institution accounts, pension pots and funding accounts. 

The quantity has spiralled to an all-time excessive, in line with unique analysis for The Mail on Sunday by Gretel, a web-based service which reconnects folks with misplaced and dormant accounts.

Nearly three in ten UK adults admit they might have cash gathering mud in an outdated account, a research run by the corporate reveals.

Have you got a stash of cash?: Gretel is an online service which reconnects people with lost and dormant accounts

Have you bought a stash of money?: Gretel is a web-based service which reconnects folks with misplaced and dormant accounts

Banks, constructing societies, wealth managers and insurers sometimes lose observe of their clients when they don’t seem to be knowledgeable of a change in handle. It has created a mountain of misplaced cash that specialists now warn will solely proceed to develop, after a significant service that helped folks observe their cash down closed final 12 months.

Credit checker Experian closed its Unclaimed Asset Register, a database of members of the general public who’ve unclaimed property, because it was unprofitable regardless of charging £25 a search.

But with only a spot of detective work it’s simple to seek out out without charge when you – or family members – have a hidden chest of treasure. 

Consumer web site Money Saving Expert says: ‘It is price spending maybe ten minutes checking to see you probably have such a windfall. It is free and straightforward to examine on-line.’

Bank accounts may be declared dormant if a financial institution, constructing society or wealth supervisor is getting letters that it sends out to you returned – with a proof that you just not dwell at this handle. 

This is normally accompanied by a interval of inactivity – the place you haven’t touched any funds – for between one and 5 years.

To discover out when you fall into this class – for each present and financial savings accounts (together with cash held by National Savings & Investments) – it is best to go to the Government-backed web site 

The service is collectively funded by banking trade physique UK Finance, the Building Societies Association and National Savings & Investments.

All that’s required for a search are a couple of fundamental particulars, reminiscent of your identify (together with earlier ones within the case of marriage), your handle (checklist as many aged addresses as potential) and your date of start.

When it involves monitoring down outdated office pensions from earlier jobs that you will have forgotten about, you should use the Pension Tracing Service – at For investments, the Investment Association could possibly show you how to out at Or for funding trusts go to the Association of Investment Companies at

Insurance insurance policies may sometimes be forgotten and fall by means of the cracks. The commerce physique the Association of British Insurers may also help with an inventory of insurers and monitoring service at

All is not lost: You can track down investments, pensions and bank accounts using a free online service

All will not be misplaced: You can observe down investments, pensions and financial institution accounts utilizing a free on-line service

Finally, you probably have did not pay money for cash utilizing your individual detective work, a free service such because the one offered by Gretel is a superb place to go – you don’t have anything to lose. The firm makes its cash by charging banks and different finance homes to conform to be on its database.

You may use the Gretel service to seek out household, buddies and those that have died. 

Duncan Stevens, chief govt of Gretel, says: ‘At a time when each penny counts these dormant accounts could be a lifeline. You ought to reclaim what’s yours proper now.’

According to Gretel, the vast majority of misplaced cash is in pension pots – accounting for about £40 billion. As many as two million persons are believed to have forgotten retirement plans that might sometimes pay out at the very least £20,000 every.

An additional ten million folks have financial institution and constructing society present and financial savings accounts that had been opened a few years in the past however at the moment are dormant – with £4.5 billion shared out amongst this huge group of individuals, the typical windfall that somebody may count on is £450.

Some two million persons are believed to have shares price £1,250 that stay unclaimed and an additional 2.5 million have life insurance coverage insurance policies that might on common pay out £800 if the policyholder manages to trace them down.

Child Trust Funds is one other main space the place cash has been forgotten over time – and the youngsters at the moment are grown up. There are an estimated a million folks with a complete of £2.2 billion – so averaging £2,200 every – with such Child Trust Funds.

The quantity of NS&I financial savings unclaimed is comparatively small at £60 million however offers a median nest egg of £40.