The figures released from the research, suggest that 7.66 million people have investments and savings accounts which they have lost track of, with forty-percent of those savers not attempting to reunite themselves with their savings.
According to the research, of those who have lost touch with their savings and / or investments, more than a quarter have misplaced their original account details, whilst roughly the same amount struggle to remember all of the accounts they have previously opened.
It is estimated that most dormant savings accounts have only small sums in them – generally £50 or less. However there are some with tens of thousands of pounds just waiting for the rightful owner to show up; whilst it is also estimated that the banks alone have between £250 and £350 million sitting in their coffers waiting to be collected, which includes money left in accounts with around 500 banks over the past 100 or so years.
Retail customer director at NS&I, John Prout, said following the research: “Even small amounts of money can help with the costs of day to day living, so it's important people keep a track of their savings no matter how much they've previously put away.”
For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk
[ add comment ] ( 1 view ) | permalink | ( 2.9 / 94 )