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Reasons to Participate

Participating in the Dormant Assets Scheme is good for consumers, good for participating organisations and good for society. 

Consumers. A key principle of the Scheme, and the reason for setting up the Scheme in the first place, is to reunite people with forgotten money. Participating financial institutions need to be proactive in trying to trace and reunite asset owners with their accounts or other financial assets before transferring to the Scheme. In the event that the value of a dormant account or other financial asset is transferred to RFL, the consumer or their beneficiary has the right to reclaim the full value of their asset – including any interest that might have accrued – at any point in the future. 

Participants. Scheme participation enables companies to channel the value of progressing a company’s ESG agenda, and demonstrating its social values in practice, without it, dormant assets – that would otherwise have little benefit to the business – to contribute to their ESG agenda and put their social values into practice. At the same time, they can move dormant assets off their balance sheet and extinguish liability for future customer reclaims. RFL takes on liability for future reclaims which benefits participants whilst protecting consumers. 

Society. It’s good for society. By participating in the Scheme, financial institutions make a positive and measurable social and environment impact on the communities in which they operate.