Forgotten money, memorable contribution
What great news - apparently there's £69m sitting in
dormant bank accounts across the UK and, Lloyds TSB has launched a
campaign to reunite us with our cash.
It got me thinking. Forget Friends Reunited, wouldn't www.moneyreunited.co.uk
be a great website! Imagine an email from a long forgotten dormant
account - telling you that after all these years (in this case
it's monies that haven't been touched for 15 years) your
Christmas bonus from 1991 is trying to track you down.
This new campaign follows the 2007 Dormant Accounts Bill and while
the average forgotten account has just £575 in it, the rising
cost of living will make the arrival of unexpected funds very
welcome for many.
For those of us without long lost funds and forgotten savings
accounts it's not quite so exciting, until you consider that
unclaimed assets will be transferred to the Central Reclaim Fund
and used to fund community projects through the UK. What a
brilliant way to give something back to society and let us share in
the windfall.
Take caring for example. There are 6 million carers in the UK,
contributing £87 billion to the UK's economy. Extra
charitable funds could provide much needed respite care for these
carers, facilities for youth projects or an opportunity for
community environment projects to thrive.
There's never a shortage of worthy causes, of course, and
charities and volunteer organisations will undoubtedly start
contacting the Central Reclaim Fund in their droves.
So whatever the beneficiary - it's fair to say that forgotten
money has the potential to make a truly memorable contribution.
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