A finance expert has said there are ‘potentially billions’ of these ‘lost’ accounts with cash inside
People could be forgetting about sums of money that rightfully belong to them but are lying dormant in one of the millions of ‘forgotten’ UK bank accounts. Through simple online services, people can be reconnected with an unexpected windfall of ‘extra’ cash that was always theirs.
Speaking on BBC’s Morning Live, finance expert Laura Pomfret explained how to trace dormant accounts, where to look, and what steps to take if you’re attempting to locate accounts belonging to a loved one who has passed away. This comes as “potentially billions of assets” could be sitting in unclaimed accounts throughout the UK – including pensions and investments.
Laura said: “[Losing track of an account] is actually super common. Lots of people have lots of bank accounts for lots of different reasons.”
It could be as straightforward as forgetting to update your details following a house move, or failing to check old email addresses that were used to communicate with the bank, which can result in ‘losing’ track of an account. It’s also possible to uncover bank accounts of relatives that you were unaware existed when managing their finances after they pass away.
In 2026 alone, Laura claims that £2.1bn was “reunited” with people who had no idea about this money they’ve forgotten about for years, reports the Express.
How to track down a ‘forgotten’ bank account
Some banks and building societies may categorise these accounts as ‘dormant’ rather than ‘lost’, as many remain untouched for years. Laura warned that people should make these checks sooner rather than later, even if they can’t remember all the specifics, as after 15 years of inactivity, funds from these accounts can legally be donated to a non-profit cause under the Dormant Assets Act (2022).
People can begin their search at a branch, provided they remember having an account with that specific brand – even if the branch they used to open the account has been closed down. Laura said: “Bring ID and a letter with your name and address on it and ask for their advice. You may not have the account number and sort code, but if you pass data protection checks, they are going to be able to say if you do or don’t hold an account.”
If you’re starting without anything particular in mind, but suspect you might have an old account somewhere, check online at My Lost Account – a free web-based service that can trace UK-based bank, building society or NS&I accounts. Users of this service will answer a series of questions, like previous addresses and other personal details that may be linked to a bank account, and the platform will use that data to locate accounts across various institutions.
Laura said: “You don’t need to make a personal account on the website, you don’t even have to provide an email address – but that might take a bit longer [to process] as they’ll post information out to you.”
If a match to your details is found, that institution will make contact. If people can prove their legal right to the account, the cash it theirs to access.
The process varies when trying to access accounts belonging to someone who has passed away. Laura recommended using the Death Notification Service — a free UK service that lets you notify multiple banks and financial institutions at once of a person’s death.
Laura claims this can help when you can no longer consult the account holder for details about these ‘mystery’ accounts. She explained that sort codes or account numbers aren’t required — simply click a drop-down list, select all, and any relevant institutions will respond, helping you avoid missing anything that could otherwise be lost forever.
