Government expands dormant assets scheme

Released 09 January 2021

The Government has announced plans to expand the dormant assets scheme, which it believes will help unlock over £800 million for communities across the UK.

Since 2011, 30 banks and building societies participating in the current scheme have enabled the release of over £745 million from dormant accounts that have been inactive for at least 15 years. These funds have been used to support a range of social and environmental initiatives across the UK.

Further information can be found in the Government press release.

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