For many years, Banks and Building Societies have faced face significant challenges in the management of dormant accounts. Despite many account balances being less £100 the company still need to maintain a record of the accounts, where this is no opportunity to cross-sell products or generate additional revenue to this particular account base. With the exception of margin interest, provide no benefit to the company.
Additionally, following the implementation of The Dormant Banks & Building Society Accounts Act 2008, companies now have an obligation to transfer outstanding funds to the reclaim fund.
ProSearch offer a comprehensive set of services to assist financial institutions trace dormant accounts holders and/ or their representatives or beneficiaries that can be tailored to you needs.
Working closely with you, we offer a streamlined service that enhances your reputation with your customers.
For further details of our services, or to discuss your company’s specific requirements, please contact us or download our brochure.
Head of Asset Reunification
22 St Johns Hill
T +44 (0)1732 748 154
M +44 (0)7843 228 988