{"id":3300,"date":"2018-10-16T16:27:35","date_gmt":"2018-10-16T16:27:35","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/lost-passwords-lead-to-lost-savings\/"},"modified":"2018-10-16T16:27:35","modified_gmt":"2018-10-16T16:27:35","slug":"lost-passwords-lead-to-lost-savings","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/lost-passwords-lead-to-lost-savings\/","title":{"rendered":"Lost passwords ‘lead to lost savings’"},"content":{"rendered":"\n
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One in seven people have lost track of their money sitting in savings accounts or pensions – with half blaming lost passwords, a survey suggests.<\/p>\n

An estimated seven million people had cash untouched in so-called dormant accounts, government-backed National Savings and Investments (NS&I) said.<\/p>\n

Some 52% of those asked who had lost track of their funds suggested it was the result of a forgotten password.<\/p>\n

But others said technology had helped them keep on top of their finances.<\/p>\n

NS&I asked more than 4,000 people whether they had lost track of financial products such as bank accounts, direct debits or signed agreements.<\/p>\n

The possibility of multiple providers – and numerous passwords – meant that many knew they had money somewhere but were unsure how to access it.<\/p>\n

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How to find your lost savings<\/h2>\n

Free services are available to help people trace their money, although the first enquiry should go to the bank or building society where they think the funds are held.<\/p>\n

Money held in banks, building societies, or NS&I can be located through the My Lost Account<\/a> system.<\/p>\n

Pension savings can also be uncovered through the government-back Pension Tracing Service<\/a>.<\/p>\n

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Ian Ackerley, chief executive at NS&I, said: “If you think you may have had savings or investments that you have lost touch with, doing a little digging and attempting to reunite yourself with lost funds may provide a chance to rekindle your savings habit.”<\/p>\n

At NS&I alone, there is a total of \u00a32.8bn in assets, including Premium Bond prizes, that is unclaimed.<\/p>\n

Although misplaced codes and passwords were considered to be part of the problem, younger people particularly thought that digital paperwork helped them manage their money.<\/p>\n

Various providers are now using the Open Banking<\/a> system to allow people to view all their bank accounts on one app.<\/p>\n<\/p><\/div>\n


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Image copyright Getty Images One in seven people have lost track of their money sitting in savings accounts or pensions – with half blaming lost passwords, a survey suggests. An estimated seven million people had cash untouched in so-called dormant accounts, government-backed National Savings and Investments (NS&I) said. Some 52% of those asked who had … <\/p>\n","protected":false},"author":0,"featured_media":3301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3300"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/3301"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}