More than a billion pounds is waiting to be claimed
HM Revenue and Customs is urging over 670,000 people aged between 18-22 to "cash in their stash" and claim their Child Trust Funds, which are averaging at £2,212.
These funds are held in banks, building societies or other saving providers until they're withdrawn or re-invested. It's estimated that hundreds of thousands of these accounts remain unclaimed.If young people or their parents and guardians know who their Child Trust Fund provider is, they can contact them directly. If not, an online GOV.UK tool can be used to find out their Child Trust Fund provider.
"You don't need to pay anyone to find your Child Trust Fund for you, locate yours today by searching 'find your Child Trust Fund' on GOV.UK." Third-party agents are advertising their services offering to search for Child Trust Funds and agents will always charge, with one charging up to £350 or 25% of the value of the savings account.
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