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Media centre /
Press releaseNS&I REUNITES 36,000 SAVERS WITH OVER £35 MILLION IN JUST FIVE YEARS16 November 2006Free tracing service increasingly popular as savers wake up to dormant fundsThis month marks the fifth anniversary of National Savings and Investments’ (NS&I), free tracing service, which has reunited over 36,000 people with £35 million since the launch in November 2001. In the last year alone almost 12,000 people successfully used the service up from just over 9,000 the year before, suggesting more people are getting their financial house in order. Growing in popularity
Over a third of the amount traced so far has been in Saving Certificates, with £13.6 million returned to just over 1,400 people. A further £11 million is in Premium Bonds which have been lost over the years. Losing touchResearch from NS&I shows that people can easily lose track of their savings and investments over time for a number of different reasons, for example 1 in 8 (12%1) people who moved home in the last year forgot to tell all their financial providers their new of address. A further 16%1 think they have lost touch with savings they had from childhood. Also unless Executors are aware that the deceased has NS&I products the money may become forgotten without the correct forwarding details. No time limit“It is great news that more people are making use of our free tracing service to get back on top of their finances,” said Steve Downey, NS&I’s head of customer service. “It is surprising that such a lot of hard-earned savings are forgotten in the first place but customers can rest assured the money is always safe and there is no time limit in coming forward. “However, customers can do a lot to prevent money becoming lost in the first place. Moving house without providing a new address is one of the biggest causes of dormant money. It only takes a few minutes to inform us of your new address and it ensures we can stay in touch with you.” Tracing Service statistics
Free tracing serviceThe tracing service form, available from 0845 964 5000* or at www.nsandi.com needs to be completed in as much detail as possible, including previous addresses, and returned to NS&I. The customer will be contacted once the trace has been completed, usually within one month. The British Bankers Association and the Building Societies Association also provide completely free tracing services enabling customers to locate their lost or forgotten funds. NS&I does not endorse any company which charges customers a fee to search for lost or forgotten money on their behalf. ENDS Notes to Editors 1. Research carried out by TNS PhoneBus, 12-14 May 2006 among 1,013 adults aged 16+. 2. * Lines are open from 7am until midnight, seven days a week. Standard call charges apply - please check with your service provider. For your security and to maintain the highest levels of customer service, calls will be recorded. 3. For details of tracing service case studies and photographs in hi-res jpeg format, contact the NS&I Media and PR team. 4. British Bankers Association dormant account scheme: www.bba.org.uk. Building Societies Association dormant account scheme: www.bsa.org.uk
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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