Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
A recent Legal and General survey has shown that the Welsh are the most likely to have money left at the end of the month after covering bills and essential payments.
Two thirds of people in Wales had money left over, compared with a national average of 53 percent and a surprising 43 percent in London. These findings really turn the general understanding of where the money is on its head. Although the cost of living in London is high it has always been thought that wages covered this difference with some to spare, but perhaps not.
A Legal and General spokesman felt the findings should prompt consumers to start putting some money aside into a savings account or something similar. Having disposable income does not mean it has to be spent straight away, saving some can make a massive difference to the future.
The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance.
The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000.
A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case.
More information about Saga Insurance can be found within Moneygossip.co.uk.
