Tens of thousands of teenagers in the UK could have large sums of cash waiting for them, according to HM Revenue and Customs (HMRC).
The government department is reminding anyone who has not yet claimed their Child Trust Funds savings that they could be owed an average of £2,100. Child Trust Funds are long-term savings accounts set up for every child born between 1 September 2002 and 2 January 2011. To encourage future saving and start the account, the government provided an initial deposit of at least £250.
The savings accounts mature when the child turns 18 years old.
