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About us

Reclaim Fund Ltd (RFL) is the operator of the UK Dormant Assets Scheme. Authorised and regulated by the Financial Conduct Authority (FCA), RFL makes it possible for money in dormant financial assets to help social and environmental initiatives across the UK.


funds transferred


made available to good causes


RFL is owned by His Majesty’s Treasury’s (HM Treasury), and RFL is accountable to government as a public body.

UK Government Investments Limited (UKGI) manages HM Treasury’s shareholding in RFL. RFL is legally incorporated with its own legal identity, acting at arm’s length from the government and governed by a separate Board of Directors.

Prior to March 2021, RFL was a wholly owned subsidiary of The Co-operative Group via Angel Square Investments Limited.

Our history

The Co-operative Group was approached by HM Treasury in late 2009 to support government and industry efforts to establish a reclaim fund that would enable dormant account monies to be used for good causes. Reclaim Fund Ltd was incorporated on 13 August 2010 and commenced operations on 28 March 2011 to put into effect the Dormant Bank and Building Society Accounts Act 2008.

In late 2019, the Office for National Statistics (ONS) conducted a review of RFL and classified it to the central government subsector. This decision made RFL a public body, applicable retrospectively from its establishment in 2010.

Due to RFL’s new status as a public body, in March 2021, the shareholding previously held by Angel Square Investments Limited (formerly known as Co-operative Banking Group Limited) was transferred to Her Majesty’s Treasury’s (HM Treasury).

Our purpose

We unlock the potential of dormant assets to enhance communities and enrich lives.


Our mission

We safeguard the rights of dormant asset holders while optimising the financial benefits for good causes.


Our values

Honesty in everything we do

Supporting each other by being stronger together

Fulfilling our obligations, ensuring accountability

Continually enhancing our knowledge and competence






RFL is incorporated on 13 August 2010 as a wholly owned subsidiary of Co-operative Banking Group Limited.


RFL commences operations on 28 March 2011 following regulatory authorisation. RFL receives in excess of £300m from 10 financial institutions.


RFL holds its first Annual Event bringing participants and beneficiaries of dormant account monies together. Total amounts received since inception exceed £500m.


RFL appoints an Investment Manager and Custodian to manage its newly established investment portfolio, in line with its investment mandate.


Cumulative distributions to Big Lottery Fund since inception for onward distribution to good causes pass £220m.


RFL relocates to independent offices in Crewe. Total amounts received since inception exceed £850m.


RFL distributes £105m to Big Lottery Fund. Three new participants join the scheme, taking the total number of participants to 15. Total amounts received since inception exceed £980m.


Transfers received from participants since inception exceed £1bn in April. Amounts committed for distribution to good causes since inception exceed £0.5bn.


RFL distributes £153m to Big Lottery Fund. Total amounts received since inception exceed £1.2bn, this being three times as much as the £400m stock of dormant monies identified early in the development stage of the scheme.


RFL welcomes its first participant to the Alternative Scheme, Newcastle Building Society. A distribution of £72m is paid to The National Lottery Community Fund, taking total distributions paid to £587m.