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Daily Mirror
Daily Mirror
Business
Levi Winchester

Join us LIVE as our experts explain how to find lost bank accounts and savings

Brits across the UK are sitting on an estimated £50billion in forgotten or lost bank accounts, investments and pensions.

But tracking down any cash that is rightfully yours is easier than you think - and sometimes it only takes a few minutes to check.

As the cost of living in the UK continues to rise at its fastest rate in 40 years, reclaiming any money that you’ve forgotten about has never been more important.

Mirror Money reporter Levi Winchester will be joined by money blogger Lynn Beattie, aka Mrs Mummypenny, on the Daily Mirror Facebook page today (June 2) at 1pm to highlight all the key websites you need to know.

We’ll also be answering any questions you have during the live broadcast, or you can also send us your queries in advance to mirror.money.saving@mirror.co.uk.

You can join our Facebook Live from 1pm here

The topics we'll be covering include how to find lost bank accounts, child trust funds, forgotten pensions and missing Premium Bond prizes.

We'll also explain how to track down insurance policies, as well as old loyalty schemes that you might not have checked in a while.

There are many reasons why a person could lose touch with their account, such as a change in address or name, and your account will be classed as "dormant" if you no longer use it.

Banks will hold onto money in inactive accounts for several years - and should hand it over straightaway if the accounts are traced.

But after 15 years, under the government’s Unclaimed Assets Scheme, money in dormant bank accounts can be given away to charitable causes.

The Mirror recently reported on how one man discovered he had a hidden savings account - and said this gave him the money to put down a deposit on a flat.

James Smith was just 22 years old when he managed to locate a lost bank account that had been opened when he was a young child.

The children's savings account was opened through Natwest, but the family had lost all traces of it, and that's when he decided to track it down.

"My mum set it up for me when I was 10-years-old," James told The Mirror. "She had been paying around £10 a month in for a several years. When I found it, it had £300 in."

Our regular columnist Mrs Mummypenny also recently found £380 in forgotten loyalty points from brands including Nectar, Boots and Tesco Clubcard.

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