What is a dormant account? What happens to money you forget about
By SendPay Business · · 2 min read
A dormant account is one that hasn't been used by its owner for a long time. The money doesn't disappear: it still belongs to the owner, who can claim it back. What changes is how the provider treats the account.
When an account becomes dormant
Providers usually mark an account inactive after a period without any customer activity, such as a year or two, and may restrict it for security. In the UK, money left untouched for 15 years can be passed to the Dormant Assets Scheme, which uses it for good causes while keeping the owner's right to reclaim it.
How to find a lost account
- Contact the bank or building society directly with any details you have.
- In the UK, use the free My Lost Account service to search several providers at once.
- Have proof of identity and any old statements or account numbers ready.
Stop it happening
Log in or make a small transaction once in a while, keep your contact details up to date, and keep a simple list of your accounts somewhere safe.
Where SendPay fits
SendPay lets you launch your own branded money app with accounts, cards, transfers and payment links, powered by licensed partners. If you run a platform, clear rules for inactive accounts help keep customers' money safe.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
When will my account go dormant?
Work out the dates from when you last used it.
Dormant account calculator →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.