RBS customers to be reunited with 'lost' cash

14 December 2015
Thousands of RBS customers are to be reunited with ‘lost’ cash after the bank wrongly told some users their accounts were closed. But you need to actively go in branch to get what you’re owed.About 4,500 RBS, NatWest, and Ulster Bank customers – which are all part of the RBS banking group – had used the My Lost Account (see mylostaccount.org.uk) tracing service to check if they had dormant current or savings accounts with the group.But despite originally being told they didn’t hold any accounts with the banks, RBS has today admitted customers were told this in error. How do I know if I’m affected?RBS says it will write to affected customers in the coming weeks. If however, it doesn’t hear a response to its letter, because for example you’ve moved house, it will contact you by phone and email. How do I get my money back?To reclaim any cash in these accounts, you need to go into your local branch with two forms of ID; one photographic and one proof of address, and complete a reclaim form.The request will take a few weeks to be verified and processed, at which point the money will be released and your account closed. There is no deadline you need to do this by.RBS says the average amount owed is below £50. ‘We are very sorry’An RBS spokesperson says: “We are very sorry that this happened and as soon as we discovered this we took steps to correct our error.”

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