PEOPLE should think hard about any money they or their family may have lost track of to help reduce the near £1bn sum lying unclaimed nationally, a North-East law firm has said.

Latimer Hinks issued the warning after it was revealed that £968m still remains unaccounted for in dormant bank, building society and National Savings and Investment Bank (NSIB) accounts, even during times when many people are experiencing financial hardship.

Mary Everitt, from the Darlington law firm, is calling for people to think of any money their family may have lost track of, possibly following the death of a relative or a house move.

“A dormant account is defined as one that has been unused for at least 15 years, so it may have been completely forgotten,”

she said.

Following the launch last year of mylostaccount.org.uk, a web-based account tracking service set up in a partnership between NSIB, the British Bankers Association (BBA) and the Building Societies Association (BSA), more than 140,000 people have used it to track down their money.

According to the NSIB, they alone have reunited customers with more than £41m.

“Using the service is certainly the first step to take,”

said Ms Everitt. “There can be cases, however, where a little more detective work is needed.

For example, you may believe that someone else has staked an invalid claim to money in an account that you believe is rightfully yours or your family’s.

“In such cases, particularly if you believe that there might be some dishonesty involved, it could be sensible to talk to a solicitor or even to alert the police. Such cases are rare, but we would be delighted to talk through your situation if you have any suspicions.”