Hundreds of thousands of young people could have an overlooked sum of money sitting in a bank account, and Martin Lewis is urging them to act now. The money comes from Child Trust Funds, a government scheme that ran from 2002 to 2011, which gave children born in the UK hundreds of pounds in tax-free savings.
Parents were then given the choice to contribute additional funds, which the child could withdraw once they reached the age of 18. Guardians were able to add up to £9,000 a year to an existing Child Trust Fund account. The money legally belongs to the child, and while they cannot withdraw it until they are 18, they can take control of the account when they reach 16.
Over 750,000 accounts still unclaimed
As of April 2026, over 750,000 Child Trust Funds remain unclaimed, and MoneySavingExpert warned that more than £1.6 million were still waiting to be collected. This affects young people aged 14 to 23.
If you were born between 1 September 2002 and 2 January 2011, you are most likely eligible to receive your Child Trust Fund, and it might be more than you expect. There is no tax to pay on the Child Trust Fund income, nor any of the profit it makes, nor will it affect any benefits you may receive if withdrawn.
How to check your eligibility
To find out if you have an unclaimed fund, head over to gov.uk and their 'Find a Child Trust Fund' page. You must be over 16 to check, or be a parent of the child whose fund you are looking for. As part of this process, you will be asked for your National Insurance number. However, if a parent or guardian is doing it on a child's behalf, they will need the child's full name, address and date of birth. The form must be completed at once and cannot be saved and returned to.
The scheme came to a halt in 2011, so any children born after this time will not be eligible, although they have the option to apply for a Junior ISA instead. It's important to know that you cannot have a Child Trust Fund as well as a Junior ISA; if an ISA is opened, you can ask the provider to transfer the trust fund into it.
Contact the provider directly
Earlier this year, HMRC confirmed it is contacting all 21-year-olds with unclaimed Child Trust Funds as a way of informing them of their account and prompting them to withdraw their money. Martin Lewis has cautioned anyone who receives a Child Trust Fund letter to get in touch with the fund's provider directly, not HMRC themselves. His newsletter says: "Warning: You should always contact the CTF provider directly using contact information listed on their website. Don't contact HMRC to access your funds. You also don't need to wait for HMRC to contact you about your CTF, as it's free and easy to locate yourself."
