# Hand over contents of dormant accounts to charity, says MP

- Link: https://fundraising.co.uk/2003/05/21/hand-over-contents-dormant-accounts-charity-says-mp/
- Published: 2003-05-21T23:00:00+01:00
- Author: Howard Lake

Martyn Jones, the MP for Clywd South, has tabled an early day motion proposing to
divert money in dormant bank and building society accounts to benefit charity.
Under
the proposal, money that has lain dormant for 15 years would be transferred to an
independent account which would be used to make grants to charities and community
groups.

The amount of dormant money is not known but estimates vary from £20 billion to 
£80 billion.

Should the rightful owner be traced, then they would retain the right to reclaim
their money from the fund.

## Advertisement

 [⌊Posthub advert. You create the campaign. We'll handle the postal journey. Get started at post-hub.co.uk.⌉](https://fundraising.co.uk/ads/posthub-20261007-300x250/)

The proposal is based on the experience of the Republic of Ireland. The Irish Dormant
Accounts Act 2001 came into effect this year and within one month ‚€200m (£143m)
had already been transferred to the fund.

Read “MP calls for UK to follow Ireland by ‘seizing’ for charity the £20bn in dormant”(
sic) at Professional Fundraising.

 * **[Charities Resource Network Goes Live](https://fundraising.co.uk/2003/06/23/charities-resource-network-goes-live/)**(
   23 June 2003)
 * **[Charity pens hit by Customs ruling on VAT](https://fundraising.co.uk/2003/07/09/charity-pens-hit-customs-ruling-vat/)**(
   9 July 2003)
 * **[CFDG welcomes futurebuilders](https://fundraising.co.uk/2003/07/20/cfdg-welcomes-futurebuilders/)**(
   20 July 2003)