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UK Government Raids Dormant Bank Accounts to Reduce Gov't Spending

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jackmcg On August 20, 2010

Deleted



West Chester, Pennsylvania
#1New Post! Jul 19, 2010 @ 13:41:53
The UK will empty out dormant bank accounts in its banks to ease government debt associated with public projects. The report doesn't address whether surviving family members were contacted regarding deceased's financial accounts. Could this happen here? Good idea or not? May be coming to a theater near you...................

https://www.bloomberg.com/news/2010-07-18/cameron-raids-dormant-u-k-accounts-while-minister-attacks-rip-off-banks.html
treebee On April 13, 2015
Government Hooker

Moderator




London, United Kingdom
#2New Post! Jul 19, 2010 @ 14:35:36
It was Gordon Brown's idea. You can reclaim any money taken by our Government from the fund if you later find out any of it is yours. There is almost ?900,000,000,000 in dormant accounts in the UK.
sAeGeSpAeNe On October 05, 2021
Part-time Nidologist





The other Bristol..., Connecti
#3New Post! Jul 19, 2010 @ 14:43:17
@jackmcg Said

The UK will empty out dormant bank accounts in its banks to ease government debt associated with public projects. The report doesn't address whether surviving family members were contacted regarding deceased's financial accounts. Could this happen here? Good idea or not? May be coming to a theater near you...................

https://www.bloomberg.com/news/2010-07-18/cameron-raids-dormant-u-k-accounts-while-minister-attacks-rip-off-banks.html



"....plans to use ?hundreds of millions of pounds? from dormant bank accounts to fund community projects...."

This is in direct conflict with the title of the OP " Raids Dormant Bank Accounts to Reduce Gov't Spending..." I would suggest editing to conform with the article.
sTreetAngeL On January 24, 2022
root tedt ree





in a paradox,
#4New Post! Jul 19, 2010 @ 15:18:22
@treebee Said

It was Gordon Brown's idea. You can reclaim any money taken by our Government from the fund if you later find out any of it is yours. There is almost ?900,000,000,000 in dormant accounts in the UK.



Is that a fact?!

That is astronomical!! And could ease alot, for sure!
sister_of_mercy On March 11, 2015




London, United Kingdom
#5New Post! Jul 19, 2010 @ 15:20:35
I don't see a problem with it, as long as it's being used for a good cause. Might as well be spent if nobody has actively laid claim to it.
Eastender On August 13, 2010

Deleted
Banned



, Falkland Islands (Islas Malv
#6New Post! Jul 19, 2010 @ 15:22:32
@sister_of_mercy Said

I don't see a problem with it, as long as it's being used for a good cause. Might as well be spent if nobody has actively laid claim to it.



Yeah. Thing is lots of it might be stuff relatives just dont know about. Have the banks made enough effort to find people? Coz its not really either the banks' or the government's money.
sister_of_mercy On March 11, 2015




London, United Kingdom
#7New Post! Jul 19, 2010 @ 15:25:41
@Eastender Said

Yeah. Thing is lots of it might be stuff relatives just dont know about. Have the banks made enough effort to find people? Coz its not really either the banks' or the government's money.



Yeah therein lies the issue really. If the people don't know that they have money stored there then it should be up to the Government to inform them, otherwise it's not really morally permissable to take it from them.
Barkley On December 20, 2010




, United Kingdom
#8New Post! Jul 19, 2010 @ 15:31:36
I doubt the banks have that much of an incentive to find the owners of these accounts.

Shouldn't this money be treated like other types of 'lost property'?
treebee On April 13, 2015
Government Hooker

Moderator




London, United Kingdom
#9New Post! Jul 20, 2010 @ 09:23:50
@sTreetAngeL Said

Is that a fact?!

That is astronomical!! And could ease alot, for sure!



a fact from the internet so cant be taken as 100% true, but the Independent newspaper website said something along those lines.
treebee On April 13, 2015
Government Hooker

Moderator




London, United Kingdom
#10New Post! Jul 20, 2010 @ 09:26:44
I disagree that the Government should do the leg work on informing relatives.

There are specific services that will find unused funds and match up unclaimed money to relatives. Its not a cheap service and takes a lot of time.

Why the hell should I pay for that if people cant keep a track of money and if anyone is really worried they can pay the ?25 for a search for any monies due to them through inheritance or otherwise.
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