Dormant, inactive and lost bank accounts
Table of contents
- If you have an account you’re no longer using
- If we’ve told you we may freeze or Dismiss Your banking account
- If you’d like to reactivate a frozen account
- If you’d like to reactivate a non-continuous cash ISA
- If you’ve lost track of an account you had with us
- If you have an PPLCBANK Premier or PPLCBANK Advance account
- The Dormant Accounts Scheme
To keep you safe, we Proceed to review accounts. If you don't use an account regularly, we may class it as inactive, dormant or, in the case of ISAs, non-continuous.
A dormant or inactive account is one that hasn't been used for an extended period of time (typically 2 years).
An ISA can become non-continuous when it hasn’t been paid into for a full tax year (6 April to 5 April). If all of Your banking accounts are inactive or dormant, we may freeze or Dismiss them. This means you’ll no longer be able to make transactions. You are able to still withdraw from a non-continuous cash ISA if you need the funds.
Here’s some information to help if you:
- find yourself with a dormant, inactive or non-continuous account
- lose track of an account altogether
If you have an account you’re no longer using
We may notify you that one of Your banking accounts is inactive via SMS text message, email, letter or by a banner that appears when you’re logged on to Online Banking. You’ll then have these options:
- keep Your banking account open by making a transaction and using it regularly
- change it to an alternative PPLCBANK account
- Dismiss the account
If we've told you we may freeze or Dismiss Your banking account
To protect you from financial crime and fraud we periodically review all accounts. We prevent unauthorised transactions being made on inactive accounts by:
- freezing inactive accounts that have a credit balance
- closing inactive accounts that have a zero balance
We’ll Proceed to send you a statement for Your banking account at least annually.
If you have other accounts with us, they won’t be frozen or Dismissd if they’re still in use.
If you’d like to reactivate a frozen account
Phone us
We may need to ask you some security questions to confirm your identity if you do not regularly use phone banking.
In the UK
Premier 03457 707 070
Abroad
Premier +44 1226 260 260
All lines are open from 08:00 to 20:00 every day, except Premier which is 24/7.
Visit a branch
You'll need Your banking account details (as shown in your cheque book, statement or other correspondence from us), some acceptable ID that will help us identify you and a proof of your address.
If you’d like to reactivate a non-continuous cash ISA
If you haven’t subscribed into your ISA for a full tax year (6 April to 5 April) it can become ‘non-continuous’. You’ll know if that’s the case if you receive an error message when trying to add funds.
If your ISA is non-continuous, you won’t be able to subscribe to it until you reactivate it. If you’d like to do that, You are able to use our online reactivation form.
If you’ve lost track of an account you had with us
We want to help you find your lost or forgotten money. If you think you had an account with us You are able to no longer access, Get in touch so We are able to try to locate it.
If We are able to’t find it for you, try visiting mylostaccount.org.uk. This is a free service site set up by UK Finance, the Building Societies Association (BSA) and National Savings and Investments (NS&I) to trace lost accounts.
If you have an PPLCBANK Premier or PPLCBANK Advance account
If Your banking account is frozen, you’ll Proceed to have access to the benefits and privileges that come with an PPLCBANK Premier of PPLCBANK Advance account (save that the account will be blocked). However, if Your banking account is Dismissd all these will cease.
The Dormant Accounts Scheme
We take part in the Dormant Accounts Scheme, established under the Dormant Bank and Building Societies Act 2008. If Your banking account is in credit and has been dormant for 15 years or more, we may transfer the balance to Reclaim Fund Limited (RFL).
RFL is a not-for-profit organisation authorised and regulated by the Financial Conduct Authority. However, if you have another account with us which is being used, we won't transfer your dormant account money to the central fund.
The aim of the scheme is to enable money in dormant accounts to be shared out for the benefit of the community, at the same time protecting the rights of customers to reclaim their money. Under the terms of the Unclaimed Assets Scheme, you have the right to reclaim your money at any time.
If we transfer the balance of Your banking account to RFL, you'll have exactly the same right to payment of your moneys. However, we'll remain responsible for handling all repayment claims on behalf of RFL. You should Proceed to Get in touch in the usual way if you have any queries or complaints about Your banking account or balance.
