5,000 HSBC customers reunited with missing cash

HSBC has so far reunited more than 5,000 customers with more than £8.55 million since launching a national campaign to bring customers back together with forgotten savings and current accounts. Launched in September 2008, HSBC's campaign has focused on 40,000 accounts with more than £38.8 million that has lain untouched for more than 15 years.

Brendan Cook, General Manager, HSBC Customer Propositions, said: "It's great to have reached the milestone of 5000 customers, but we still have more HSBC accounts on our records that have not been touched since at least 1994. With an average balance is £1,000 in these accounts, this is money that could make a real difference to a lot of people if we can trace them."

Mr Cook said the greatest difficulty was tracking down customers who had changed address without telling their bank.

"We can't write to these customers because the letters contain private financial details, so we are using a combination of advertising and publicity to raise awareness, as well as an active tracing programme.

"Money lies in dormant accounts for a variety of reasons. People die and their accounts are not traced when an estate is being administered, small balances are often just forgotten, while larger balances often just sit there only to be used in case of emergencies.

"People's personal finances change very quickly, so it is highly likely that after 15 years our customers will need to reassess whether their money should still be in the same account."

HSBC's campaign is supporting a government programme to reunite people with their lost or forgotten cash. Under government regulations coming into effect this year, money in accounts that have not been used for 15 years will be transferred to a government fund and used to finance a range of public/social programmes. The money will however always remain the property of the customers who, should they get back in touch with their bank, will be able to reclaim it at any time.

Top Tips For Finding Your funds

If you think you may have a dormant or unused account with HSBC, but do not know your account details please visit: mylostaccount.org.uk.

The more information you can provide the easier and faster it will be to reunite you with your money. This includes:

any old statements or passbooks
location of the branch where the account was opened
your previous addresses
when you think the account was last used
the amount of money you think is in the account

If you are claiming for someone else, or believe you might be entitled to some dormant funds, you will need to provide proof of that entitlement, such as a will or power of attorney.

Finally, if you have full details (including the sort code and account number) of your HSBC dormant account please visit our website hsbc.co.uk/unclaimedbalances for details on how to gain access to your account.