What is a dormant bank account?
A dormant account, or inactive account, is a savings account that has had no activity or contact with us for 15 years. This means that no money has been paid in or withdrawn from the account during that time. Interest will still have accumulated and been added to the account.
How do I reactivate or close my dormant account?
To reactivate or close your dormant account, we’ll need to verify your identity.
What you need to do:
- Provide two forms of ID. Bring them into any of our branches, or send certified copies by post to: FREEPOST THE CAMBRIDGE BUILDING SOCIETY.
If your details have changed (such as address or name):
- We'll need a signed letter confirming your current details or
- If you visit a branch, you can complete a 'Keep us up to date form' instead.
If you have a question or need further help please call us on 0345 601 3344.
How do I reactivate or close my dormant account?
To reactivate or close your dormant account, we’ll need to verify your identity.
What you need to do:
- Provide two forms of ID. Bring them into any of our branches, or send certified copies by post to: FREEPOST THE CAMBRIDGE BUILDING SOCIETY.
If your details have changed (such as address or name):
- We'll need a signed letter confirming your current details or
- If you visit a branch, you can complete a 'Keep us up to date form' instead.
If you have a question or need further help please call us on 0345 601 3344.
How we use dormant account funds
We participate in the Dormant Assets Scheme, also known as the Unclaimed Assets Scheme, established under the Dormant Bank and Building Society Accounts Act 2008. It’s a UK Government programme which aims to reunite people with their financial assets.
Assets are only classed as ‘dormant’ and made available to the Dormant Assets Scheme after several attempts to reunite the funds with their owners. Where this is not possible, the dormant funds go towards social and environmental initiatives across the UK.
So far, we’ve used dormancy funds to help local groups, charities and organisations who need financial support with their work to tackle home and housing needs.
Find out more about our Community Fund and how we're Making the Difference to help people have access to shelter and housing by participating in the Dormant Assets Scheme
More about the Dormant Assets Scheme
The Dormant Assets Scheme is administered by Reclaim Fund Ltd (RFL)
Under the scheme, we may transfer balances of dormant accounts to Reclaim Fund Ltd (RFL).
RFL reserves and invests some of this money to ensure that people can always be reunited with their funds, at any point in the future.
The remainder is released to fund vital social and environmental initiatives across the UK.
Can I reclaim my money?
If we transfer the money in your account to RFL, you can still reclaim it. We'll need to verify your identity, once we've done this we’ll manage the process in reclaiming your money.
FSCS protection
The Cambridge and the RFL are part of the Financial Services Compensation Scheme (FSCS). If we transfer your money to RFL, it won’t negatively affect any entitlement to compensation from the FSCS.
Send me details
of the Dormant or inactive accounts
If you do not receive the email with the information attached in a few minutes, please check your "junk mail" or "spam" folder.
We promise not to give your email to anyone else or use it for any other purpose than delivering the requested information.