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NS&I traces 'lost' savings

16 November 2005
National Savings & Investments (NS&I) has reunited owners with millions of pounds of lost savings.

The government-backed financial services provider is celebrating the fourth anniversary of its free tracing service which has so far reunited 25,000 people with £25 million - an average of £1,025 per person.

The main reasons people 'lost touch' with their savings was forgetting to inform their bank they had changed their address or not realising they had money to claim on a bond.

"Many people are quite literally just walking away from their money when they move home," said Paul Knight, NS&I's head of sales development.

"It is vitally important that you give all your financial providers your new address so we can stay in touch with you," he added.

Research carried out by NS&I earlier this year found over a quarter of people who moved home in the last year forgot to pass on their new address details to their financial provider.

NS&I's tracing service form is available by phoning the financial services provider or can be downloaded from their website.

To read more about Savings Accounts, click here.

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