The bank is aiming to re-unite customers with funds they have lost or forgotten about.
Lloyds TSB is to redouble its efforts to reunite customers with funds they have either lost or forgotten about, the bank announced today.
According to figures released by the firm, around £69 million is currently held in such "dormant accounts" - with 120,000 people not touching them for 15 years or more. In order to alert customers to the fact that they might have lost money in this way, Lloyds TSB is launching an advertising campaign, and has also retained the services of a tracing agency to find out the identities of account holders.
The bank's scheme follows similar moves from rivals. For example, Halifax reunited £14 million of dormant account deposits with customers over the course of last year.
Helen Weir of Lloyds TSB said: "These accounts have been long forgotten and our aim is to reunite as many customers as possible with their cash. As customers change address, open multiple accounts and their circumstances change, despite our best efforts to keep in touch, it's surprisingly easy for them to lose track."
Lloyds TSB also indicated that customers holding dormant accounts in Cheltenham & Gloucester, the bank's mortgage lending unit, will also be targeted by the campaign.
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