Banks join taskforce to reunite young people with £1.6bn unclaimed savings

The Government announced the new taskforce after finding that more than 750,000 child trust fund accounts are unclaimed (Alamy/PA) -

Nationwide and HSBC are among banks and building societies joining forces with the Government to try to reunite young people with £1.6 billion worth of forgotten child trust fund savings.

The Government announced the new taskforce after finding that more than 750,000 accounts are unclaimed, holding £2,200 on average.