'Big society' benefits from forgotten bank accounts

[aleister crowley]

Money taken from inactive bank accounts is being used by the government to pay for 'big society' projects.
The Cabinet Office has announced that ?3.1 million of funds taken from dormant accounts is being used to invest in four community projects.
Half the money will be used to pay for two projects helping the long-term unemployed get into business or education.
The remaining funding will be split between social enterprises offering affordable renewable energy and the Social Stock Exchange - the first stock exchange for social enterprises.
"These investments will bring real changes to people's lives. They will help young people into jobs and give the long-term unemployed the opportunity to set up their own businesses," civil society minister Nick Hurd said.
The government had pledged to set up a 'big society' bank to provide funding for projects advancing David Cameron's vision. That is now being set up in the form of Big Society Capital.
Its investment committee will consider more proposals in February.
Mr Hurd added: "The Big Society Investment Fund, under the auspices of the Big Lottery Fund, is doing a fantastic job forging the way. Already, their investment decisions show the range of exciting projects that just need financial backing to get going."
Ministers have sought to take advantage of money held in dormant bank accounts for several years. They are thought to together hold ?850 million in forgotten cash.


'Big society' benefits from forgotten bank accounts








Is it just me or is that theft?


This is someone's money and they can't just 'borrow' it.

[Meat-Head]

Was on TV some couple had a bank account - stuffed money in it - for there goldern wedding - time come - the bank denyed all knowage - they had a bank book showing the figures.

Must admit i have a few ''forgotten' ones - be a bit pished if somebody has took it.

[smirnoff_rules]

how can a dormant account be dormant? the bank use that money to invest and pay interest back into your account , so its never dormant really

[Meat-Head]

how can a dormant account be dormant? the bank use that money to invest and pay interest back into your account , so its never dormant really

Good point - but then again nobody has used that account for say 20 years so they won't miss it.

BUT what if the owners comeback for it?

[smirnoff_rules]

Good point - but then again nobody has used that account for say 20 years so they won't miss it.

BUT what if the owners comeback for it?

thats up to the customer not the bank 20 / 30 years , u might have money in there for kids anything its yours to do with wot u will .. l would think if the customer does come forward the bank will still open there account again and refund and claim back from the government

[super jumbe]

I had a Hungarian friend loaded ????????????????????

Went to Hungary on his holidays and when I went to pick him up in the airport no passenger with the friends name in the passenger list.

I came back and waited to receive calls from him but I later found out he died in Hungary.

He had no relations in UK ~~~~ knows what happed to that money left in the bank on his name.

He want be coming back to claim it!!!!!!!!!!!!!!!!!!!!!!!!!!

[tshirtman]

so ?1.5 million goes to help the unemployed, but London gets given ?1.8 million for a poxy fireworks display.
its good to see there getting your priorities right.

[super jumbe]

I have lost the trust when Govt says money is used to invest in four community projects.

Another scum the ???????????????? going to be used for wars.

[bobwill]

I know a local farmer who had an account that he did not use but the bank always sent him a statement once a year .Then after several years when his statement came some one had put their morgage payments on his account. When the bank investgated it found it was a bank employee who had put his morgage on to his account thinking it was an forgotten account