Monday, 13 September 2010

Lost, forgotten and misplaced Accounts

Last week was QROPS Week and the response was tremendous, I will be producing a Feedback page at the end of this week. Today I am looking at something which affects a surprisingly high number of people. Please pass on to your family, friends and colleagues.
  • Pensions – company or personal
  • Insurance Policies
  • Bank Accounts
  • Building Society savings
  • Shares
  • Inheritances
So you’ve moved to Spain (or going to) and you wrote out a ‘To Do List’ (well its probably in your head) but have you missed anything, lost an old bank account, maybe even a small pension with a company you worked for 25 years ago? Just think about it for a few minutes. Talk to all of your family and friends and you never know what you might recall.

My own enquiries had started when I found a website called ‘my lost account’. This is run in conjunction with the British Bankers Association (BBA) and the Building Societies Association (BSA). If you have lost accounts or think you may have unclaimed assets, as long as you can identify yourself, you can reclaim your money.

Financial institutions have literally billions of pounds in unclaimed assets, waiting for their rightful owners to collect. Did you know that uncollected inheritances go to the HM Treasury?

If you have pensions you cannot trace, then a financial adviser may be able to help. Many companies have been taken over or merged and can be difficult to trace. I will recommend a regulated adviser if you email me.

ITV ran a programme which concentrated on life assurance policies, but the same is true of shares, bank accounts and building society funds.

I will give you three sources where you can look

Seriously it is worth a look. If you find any others, please email me and I’ll add them to my blog.

What’s more you could be doing your family, friends and neighbours a great favour by passing on this information. You just never know……….

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PS If you recover lots of cash, please remember the guy that told you about it!

If you have your own question, I’d be delighted to answer it. Those of you who live in Spain or intend to live in Spain should be very careful when choosing an adviser. Any adviser can advertise on the internet or in a newspaper but that does not guarantee that they are properly authorised and regulated.

You can write to me with your personal experiences or to be put in touch with my recommended adviser by sending me an email