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Our role – principal activities

The principal activity of Reclaim Fund Ltd (‘RFL’) is that of the receipt and management of dormant asset monies. RFL is also permitted to invest funds and to defray administrative costs and other reasonable expenses.

The Dormant Assets Act 2022 (‘The Act’) (which includes the original Dormant Bank and Building Society Accounts Act 2008) enables organisations with eligible financial products, to transfer the value of their dormant assets into the Dormant Assets Scheme (‘the Scheme’), operated by RFL, a not for profit organisation.

Consumer protection is at the heart of the Scheme: the owners’ right to reclaim the value of their asset(s) that would be due to them had a transfer into the Scheme not occurred is protected in perpetuity. In this event, owners make a claim to the original organisation, which is then reimbursed by RFL.

RFL manages cash that is transferred into the Scheme to meet future reclaims and enables surplus funds that are not required to meet future reclaims, to be distributed to specialist organisations to benefit social and environmental initiatives across the UK, as set out in the Act.


accounts reclaimed




RFL currently operates:


The Scheme
Enables participants from the banks and building societies, insurance, pensions, investment, wealth management sectors and public limited companies to transfer money from their eligible dormant assets to RFL. Surplus funds not required to cover future reclaims are then used to provide funding to charities and social enterprises across the UK.

The Alternative Scheme
Enables building societies and banks with balance sheet values below £7bn to use qualifying dormant accounts to support their chosen charities.