Finance expert Laura Pomfret has urged Britons to check for forgotten bank accounts, as billions of pounds in pensions, investments, and savings remain unclaimed across the UK. Speaking on BBC's Morning Live, Pomfret explained that losing track of accounts is 'super common' and often results from simple oversights like failing to update an address after moving or neglecting old email addresses used for bank communications.
Billions in Unclaimed Assets
Pomfret highlighted that 'potentially billions of assets' are sitting in dormant accounts. In 2026 alone, £2.1bn was reunited with people who had no idea they were owed money, according to her statements reported by the Express. This includes accounts belonging to deceased relatives that may go undiscovered during estate management.
How to Trace Forgotten Accounts
Banks and building societies often classify untouched accounts as 'dormant' rather than 'lost'. Pomfret warned that under the Dormant Assets Act (2022), funds from accounts inactive for 15 years can legally be donated to non-profit causes. She advises starting a search at a local bank branch if you recall the institution, even if the original branch has closed. 'Bring ID and a letter with your name and address on it and ask for their advice,' she said. '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.'
For those with no specific institution in mind, the free online service My Lost Account can trace UK-based bank, building society, and NS&I accounts. Users answer questions about previous addresses and personal details, and the platform searches across multiple institutions. Pomfret noted: '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 is found, the institution contacts the claimant, who must prove legal right to access the funds.
Accessing Accounts of Deceased Relatives
For accounts belonging to someone who has died, Pomfret recommends the Death Notification Service, a free UK service that notifies multiple banks and financial institutions of a death simultaneously. This eliminates the need for account numbers or sort codes; users simply select relevant institutions from a drop-down list, and any matching accounts will be flagged, preventing funds from being lost forever.
