More than £557million in forgotten savings, pensions and investments has been left unclaimed by Brits, but there is a way to get the money back. New figures obtained by Confused.com through a Freedom of Information (FOI) request show more than £557million from 4.4 million accounts has been transferred to the Dormant Assets Scheme.
What is the Dormant Assets Scheme?
The Dormant Assets Scheme was set up by the Government to reunite people with lost cash that has been left untouched for 15 years or more. If money is transferred, it is held by Reclaim Fund Ltd to fund social and environmental causes, but account holders still have the right to reclaim their funds no matter how many years have passed. The fund holds back enough money to cover future claims.
Companies must always try to reunite people with their lost money before transferring it to the scheme. The new figures show account holders reclaimed £62.7million between 2022 and 2025, equivalent to only 11% of the £557million the scheme received over the same period.
Unclaimed Premium Bond prizes
A further £97million remains unclaimed in Premium Bond prizes as of March 2025, up 21% from £80million in 2022. London holds the most of any UK region, with £14.5million in unclaimed prizes, while Northern Ireland has the least, with £1.1million.
New research shows more than one in three people (35%) think banks should do more to remind customers about inactive accounts. Almost one in six (15%) assume their bank would get in touch if they had money lying forgotten. Bank providers would usually write to a customer's last known address and then stop once they hear nothing back, so if someone has moved, those reminders may never reach them. Nearly a third (29%) of Premium Bond holders have never checked whether they have an unclaimed prize.
Expert advice on reclaiming lost cash
Tara Evans, Personal Finance Expert at Confused.com, said: "With finances stretched for so many households, it's worth remembering that forgotten money is far more common than people realise. It’s easy to assume this money is gone for good, but it almost never is. Whether it’s an old savings account or a Premium Bond prize you never knew you had won, it’s probably still waiting to be claimed, and it can add up to a surprising amount."
