Dormant and lost personal Accounts | Barclays (2024)

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Lost touch with your account?

See how to find your money and get it back

  • If you have some money left in your account, we’ll move it to a central holding account where it’ll still earn interest at the same rate as before, if applicable. You can submit a claim to get this money back – we explain how on this page.

  • We’re unable to close currency accounts, so we’ll make it dormant (inactive). If you have any money left in it, it’ll stay in there but you won’t be able to access the cash, or see the account in Online Banking or the Barclays app. You can claim the money by following the steps we explain on this page.

  • You’ll need to submit a claim to get your money back.

    Download the claim form

    Complete the form, print it, and post it with two forms of certified IDto

    BARCLAYS

    Leicester

    LE87 2BB

    If you’re unable to do this, please visit a branch, or write to us at the address above, and we may be able to start the claim for you.

    If we have all the information we need, we can process a claim within two weeks.

  • If you’re not sure who your account was with, you can trace it at mylostaccount.org.uk. It’s a free service that helps you trace lost current and savings accounts, supported by the Building Societies Association (BSA), National Savings and Investment (NS&I) and UK Finance.

  • We participate in the Unclaimed Assets Scheme established under the Dormant Bank and Building Society Accounts Act 2008. The purpose of the scheme is to enable money in dormant accounts to be distributed for the benefit of the community while protecting the rights of customers to reclaim their money. An account is considered dormant when it’s been inactive for 15 years or more.

    Under the scheme, we may transfer balances of dormant accounts to Reclaim Fund Ltd (RFL). RFL is a not-for-profit reclaim fund that’s authorised and regulated by the Financial Conduct Authority (No 536551).

    If we transfer the money in your account to RFL, you can still reclaim it. We’ll still handle all the claims and manage the process,so you should follow the same process as we've explained on this page.

    Both we and RFL participate in the Financial Services Compensation Scheme (FSCS). If we transfer your money to RFL, it won’t negatively affect any entitlement you have to compensation from the FSCS.

    This only applies to sterling accounts.

Dormant and lost personal Accounts | Barclays (1)

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Dormant and lost personal Accounts | Barclays (2024)

FAQs

How long do banks keep dormant accounts? ›

It could be as little as 12 months for a current account, three years for a savings account, or in some cases up to 15 years.

Do dormant bank accounts get closed? ›

As per RBI guidelines, a savings/current account will be treated as inoperative if there are no transactions in the account for over a period of two years. To reduce fraud, banks convert accounts that have been idle for a prolonged period of time into inoperative accounts.

What do banks do with dormant accounts? ›

The bank may be trying to alert you that your account is inactive. If the account remains inactive, it may be classified as abandoned, and your funds may be turned over to the state. This practice may also be referred to as escheatment.

How do I recover my dormant account? ›

How to activate a dormant account? To reactivate your dormant account online, you will need to submit an activation request to the bank via email or your bank's digital channels, such as internet banking and mobile apps. Alternatively, you can also visit your bank's nearest branch.

How long does it take for a dormant bank account to be closed? ›

The time it takes for a bank to close an inactive checking or savings account can vary widely depending on the bank's policy. Typically, an account may be considered inactive after 12 to 24 months of no transactions. If it remains inactive, the bank might close the account, usually after notifying the account holder.

What happens to bank accounts that are never claimed? ›

After a period of time, the FDIC or the bank must transfer unclaimed property to the state. Federal law requires unclaimed deposit accounts to be transferred to the state after 18 months, and state laws differ on the period of time after which contents of safe deposit boxes must be transferred.

Can I withdraw money from my dormant account? ›

A bank account's holder is unable to conduct transactions once it is rendered inactive. However, dormant accounts are free of statute limitations. This means the beneficiary may withdraw funds at any time.

What happens if I don't use my bank account for 3 years? ›

Your Savings Account will become dormant if you don't use it for about 12 to 24 months. This does not mean that you will lose your money or that the bank will close your account.

How to recover an old bank account? ›

Check your personal documents to see if you have any record of the old bank account. Contact the bank to inquire about whether the account is still open or what happened to its funds. Unclaimed property can wind up in the hands of the state, and you'll have to file a claim to get it back.

How to retrieve a lost bank account? ›

If you know where the account was held, contact the bank or provider directly. If not, there are free services you can use. These use your details to track down any missing accounts on your behalf. If an account is found, you'll normally need ID to reclaim the money and any interest due.

What is the risk of dormant bank accounts? ›

The Importance of Not Leaving Your Savings Account Inactive

As a result, the bank may slap you with a penalty charge. This can eat into your hard-earned savings over time, eroding your account balance and causing you to lose out on any interest you might have earned.

How can I get my money from a closed bank account? ›

If you have money in the account at the time it's closed, the bank is required to return it to you minus any outstanding fees. If an automatic deposit goes into that account after it's closed, those funds must also be returned. Typically, the bank will send you a check.

How do I reclaim a dormant account? ›

Reactivating your dormant account

You'll need to provide detailed information to your bank or building society, such as the account number, holder's name, balance, and any statements you have. This will help verify your identity and reclaim your funds.

Can I get my money if my account is dormant? ›

How Can I Claim My Money From a Dormant Account? Your first step is to contact the bank or other financial institution where you had the account. You'll need proper identification and you should have some proof that it's your money, such as a bank statement.

What documents do I need to reactivate a dormant bank account? ›

You must submit a written application to the bank. For joint accounts, signatures of all accountholders will be needed, irrespective of a single or joint operating mode. You will have to submit your KYC (Know Your Customer) documents. These will include address proof, PAN Card, and identity documents.

How long before a bank account is closed for inactivity? ›

When an account has no transactions for 12 months, it is considered inactive. If there is no activity for 24 months, it is deemed dormant.

What happens if a bank account is inactive for 10 years? ›

Money left untouched in a bank account for ten years or longer, or funds remaining unclaimed for the same period, are termed unclaimed deposits. After this time, banks transfer these funds to the Depositor Education & Awareness (DEA) Fund overseen by the RBI. The money in the deposit account will not be forfeited.

How long is a dormant account valid? ›

The Reserve Bank of India (RBI) has stipulated that a savings account or current account is considered dormant if there are no transactions for more than two years. However, some banks may consider an account inactive after one year of inactivity and dormant after two or three years.

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