Tracing money in forgotten or lost bank accounts has been simplified thanks to a website set up by the British Bankers Association, the Building Societies Association and National Savings and Investments (NS&I). People who think they may have a lost account can complete an online form at www.mylostaccount.org.uk.

The details will be securely passed on to the scheme's participants, and provide access to 42 UK banks, 59 building societies, plus NS&I accounts including Post Office Savings accounts from before 1967.

The amount of money in unclaimed accounts (defined as having no customer-initiated activity for at least 15 years) is around £300m for banks, £150m for building societies and £466m in NS&I accounts.