{"id":124975,"date":"2026-09-01T10:30:00","date_gmt":"2026-09-01T09:30:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=124975"},"modified":"2026-09-01T10:00:49","modified_gmt":"2026-09-01T09:00:49","slug":"thousands-urged-to-check-forgotten-account","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/thousands-urged-to-check-forgotten-account\/","title":{"rendered":"Thousands Urged to Check for Forgotten Account That Could Be Worth \u00a32,000"},"content":{"rendered":"\n

The Financial Conduct Authority<\/strong> has renewed its call for young people to trace their accounts, particularly as students return to colleges and universities. The money already belongs to the account holder, but some people may have lost track of where their fund was opened or may not know that an account was created for them in the first place.<\/p>\n\n\n\n

Young Adults Can Trace Forgotten Accounts Without Paying a Fee<\/strong><\/h2>\n\n\n\n

Anyone who knows which provider holds their Child Trust Fund can contact that company directly. Those who do not know the provider can use HMRC’s online tracing service on GOV.UK, which is free to use and identifies where the account was originally opened.<\/p>\n\n\n\n

According to GOV.UK, people aged 16 or over can use the HMRC service<\/a> to look for their own trust fund, while parents or guardians can use it for a child under 18. Applicants searching for their own account will be asked for their National Insurance number,<\/strong> as well as adoption details where relevant.<\/p>\n\n\n\n

Parents or guardians need to provide the child’s full name, address and date of birth, together with any previous names used by either the adult or the child. A National Insurance number for the child can also be included if available. The online form<\/strong> must be completed in one session because it cannot be saved and resumed later.<\/p>\n\n\n\n

HMRC then sends a letter giving details of the Child Trust Fund provider. For online applications, GOV.UK says this will usually arrive within three weeks<\/strong> of HMRC receiving the request. Other free tracing services are also available, including the Share Foundation.<\/p>\n\n\n\n

\"\"
Young adults can trace forgotten Child Trust Fund accounts for free \u00a9 Shutterstock<\/em><\/figcaption><\/figure>\n\n\n\n

Regulators Warn Against Paid Tracing Services and Scams<\/strong><\/h2>\n\n\n\n

The FCA has raised concerns about companies offering to locate and claim Child Trust Funds in return for fees or a share of the eventual payout. According to the regulator, it has seen cases in which customers were charged \u00a3400 simply to locate an account, while some firms have charged monthly subscriptions for what is essentially a one-off tracing service.<\/p>\n\n\n\n

Chris Knight<\/a>, director of insurance at the FCA, said a Child Trust Fund could provide extra money at a time when many young people need it. He also stressed that account holders do not need to pay a third party to recover their savings <\/a>because tracing and accessing a fund is free.<\/p>\n\n\n\n

HMRC began sending letters in April to remind people about Child Trust Funds. Myrtle Lloyd<\/a>, HMRC’s chief customer officer, said people aged between 15 and 24 could have savings without realising it and directed them to the official GOV.UK tracing service.<\/p>\n\n\n\n

The department has also warned about fraudulent messages. HMRC says that if someone receives a text or email claiming to be from the department in relation to a Child Trust Fund, it is a scam, and HMRC will not ask for financial details in such messages.<\/p>\n\n\n\n

The FCA is also launching a review <\/strong>of Child Trust Funds. The work will examine issues including cases where young adults cannot be contacted when they turn 18, leaving them at risk of losing contact with savings held in their name.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hundreds of thousands of young adults are being urged to check whether they have a forgotten Child Trust Fund, with around 760,000 accounts still unclaimed. According to HM Revenue and Customs, around 6.3 million Child Trust Fund accounts were created for children born between 1 September 2002 and 2 January 2011, and the average value of an unclaimed account is about \u00a32,000.<\/p>\n","protected":false},"author":2,"featured_media":124978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-124975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/124975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/comments?post=124975"}],"version-history":[{"count":2,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/124975\/revisions"}],"predecessor-version":[{"id":124979,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/124975\/revisions\/124979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media\/124978"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media?parent=124975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/categories?post=124975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/tags?post=124975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}