Brits are missing out on millions of pounds in forgotten cash, with more than £557 million transferred into the Treasury's Dormant Assets Scheme over three years.
Just 11 per cent of that money - £62.7 million - was reclaimed by its owners between 2022 and 2025, according to new research.
And there could be even more cash waiting to be claimed elsewhere, with almost 2.5 million Premium Bond prizes worth £97 million sitting unclaimed as of March 2025.
The figures have prompted a warning to households to check whether they have old bank accounts, savings or Premium Bond prizes they have simply forgotten about.
The research by Confused.com found that people who successfully tracked down a lost account recovered £1,011 on average.
With household finances under continued pressure, finding money that already belongs to you could provide a welcome boost.
More than £557m moved into dormant assets scheme
Between 2022 and 2025, more than £557 million was transferred into the HM Treasury Dormant Assets Scheme from more than 4.4 million dormant accounts.
The figures were obtained by Confused.com through Freedom of Information requests to Reclaim Fund Ltd and NS&I.
An account can become dormant after it has been left untouched for 15 years, with no deposits or withdrawals, and the provider has been unable to trace its owner.
This can happen after someone moves house, changes banks or simply forgets about an old account.
But the money is not necessarily gone for good.
Reclaim Fund Ltd is legally required to return the money to its rightful owner if they come forward, regardless of how much time has passed.
Between 2022 and 2025, account holders reclaimed £62.7 million, equivalent to around 11% of the £557 million received by the scheme during that period.
🎉This month’s Premium Bonds jackpot winners are from Norwich and London
⭐We're counting down to the 70th anniversary of Premium Bonds going on sale in November
📲 Use the prize checker app from tomorrow to see if you've won
Read the full story here 👇https://t.co/dMsiHTPtTa pic.twitter.com/GnyD7EXrxm— nsandi (@nsandi) September 1, 2026
£97m sitting in unclaimed Premium Bond prizes
Premium Bonds are another potential source of forgotten cash.
As of March 2025, more than 2.5 million Premium Bond prizes worth £97 million remained unclaimed.
That figure has increased by 21% since 2022, when £80 million in prizes was unclaimed.
And almost a third - 29% - of Premium Bond holders have never checked whether they have an unclaimed prize, according to a survey of 2,000 UK adults who hold a bank account.
Premium Bond prizes become classed as unclaimed after they have gone uncashed for 18 months.
But the money does not expire.
There is no deadline for claiming a Premium Bond prize, meaning unclaimed winnings can continue to build up.
London has the largest value of unclaimed prizes, at £14.5 million, while Northern Ireland has the smallest, at £1.1 million.
Where unclaimed Premium Bond prizes are sitting
- London – £14.5 million
- South East – £14 million
- East – £8.1 million
- North West – £7.6 million
- South West – £7.5 million
- West Midlands – £5.7 million
- Scotland – £5.2 million
- Yorkshire and the Humber – £4.6 million
- East Midlands – £4.4 million
- Wales – £3.6 million
- North East – £2.2 million
- Northern Ireland – £1.1 million
Why are people losing track of their money?
The research suggests the way people manage their finances could be partly responsible.
Almost two in five (39 per cent) of those surveyed use three or more separate banking or financial apps.
And 5 per cent admitted they do not keep track of their savings, accounts and financial products at all.
The most common reason people lose track of an account is remarkably simple: 46 per cent said they had simply forgotten it existed.
A further 18 per cent blamed having money spread across too many apps or providers.
Premium Bonds appear to be a particular blind spot, with 28 per cent of respondents saying they hold them, while one in 10 said they often forget they even own them.
The research also found that 35 per cent think banks should do more to remind customers about inactive accounts.
Recommended reading:
- DWP confirms exact birth date for £300 Winter Fuel Payment and key week to qualify
- The DWP State Pension age change being proposed to help young adults get jobs
- Pensioners hoping for £14,500 State Pension get major DWP response
How to find forgotten money
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.”
She recommends taking a few simple steps:
- Know what you hold: Make a list of every bank account, savings pot and financial product in your name and check it regularly.
- Use the free tracing service: My Lost Account allows people to search for lost bank, building society and NS&I accounts.
- Check Premium Bonds: Use NS&I's free prize checker to see whether you have any unclaimed winnings.
- Keep your details updated: Make sure banks, building societies and NS&I have your current address, email and phone number.
- Keep a record: If your money is spread across several banks and apps, keep a simple list of where everything is.
Evans said: “Whatever you find, it is always worth looking at your bank accounts. Forgotten money does not expire and it belongs to you, so tracking down an old account or an unclaimed prize could give your finances a real lift for very little effort.”
“The hardest part is simply remembering to check, so make sure you set time aside for it.”
Share