Royal Mail to aid efforts to trace dormant accounts by Finance News Bulletin

Published: 05/12/07

As a number of fee and speed increases hits the credit card market, it is "more important than ever" that people supermarket around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukregal Mail has announced that it can help banks and building societies draw dormant account holders by using the in order contained in its redirection databaseThe organisation says it has about 16 million records of address changes contained within its filesAnd it claims that trials of by those records to trace lost account holders have been winning 60 per cent of the time

According to a Royal Mail representative, the main reason accounts become dormant is account holders altering address without informing their bank or building civilization"Our unique information on people who have moved house over the past 16 years helps us recognize them," added Leonora Corden, Royal Mail head of marketplace developmentIn related news, the government recently expressed a belief that funds in latent accounts should be used as a communal fundOne building society, Halifax, says it has an estimated 110,000 latent accounts with around £44 million in

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