UK Money News
30th January 2008
Yorkshire asks dormant account holders to come forward
Customers of Yorkshire Building Society should act now to avoid unclaimed assets in dormant accounts being commandeered by the government, a leading building society has warned.
Last year, the government announced plans to redirect the estimated £1 billion being held in accounts which have not used for 15 years or more.
Under the terms of the scheme, which could begin as early as next year, the cash will be redirected to community projects.
In response, the Yorkshire Building Society said that consumers who believe they have cash stored in a dormant account with the company should come forward to claim it.
Pete Sowden, Yorkshire’s head of service quality, said: "We’re calling on our members who haven’t used their account for many years to re-establish contact with us by visiting their local branch with their passbook for updating or card to check their balance."
"This simple action can prevent their money being classified as ‘lost’ and they may get a nice surprise when they see how much their savings have grown."
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