The Scheme

Following the passing into law of the Dormant Bank and Building Society Accounts Act 2008 on 12 March 2009, The Co-operative Banking Group was approached by HM Treasury in late 2009 to support the Government and industry efforts by establishing a reclaim fund to enable dormant account monies to be used for good causes.

Reclaim Fund Ltd, a wholly owned subsidiary of The Co-operative Banking Group, was established on 28 March 2011. It is authorised and monitored by the Financial Conduct Authority, operates independently with an appointed Board and Executive, and is non-profit-making.

Our role – principal activities

The principal activity of Reclaim Fund Ltd (‘the Company’) is that of management of dormant account monies. The Company has been actively operating since 28 March 2011.

The Company was established as a wholly owned subsidiary of Co-operative Banking Group Ltd following the introduction of the Dormant Bank and Building Society Accounts Act 2008.

The Act enables banks and building societies, that choose to participate (‘participants’), to transfer money from their dormant accounts to the Company for distribution to Big Lottery Fund and then onwards to good causes across the UK. It also ensures that the right of account holders to reclaim their money is protected in perpetuity by transferring the individual’s claim against their bank or building society to RFL.

The strategy for the Company is aligned to the operational activities authorised by the Dormant Bank and Building Society Accounts Act 2008, which permits only those activities set down in the Act. Along with the activities above, the Company is permitted to invest funds and to defray administrative costs.


Participating Banks and Building Societies:

  • Barclays Bank PLC
  • Butterfield
  • Commonwealth Bank of Australia – London branch
  • Consolidated Credits Bank Ltd
  • Clydesdale Bank PLC
  • The Co-operative Bank plc
  • Danske Bank
  • HSBC Bank plc
  • Lloyds Banking Group
    • Lloyds Bank plc
    • Bank of Scotland plc


  • Nationwide Building Society
  • NM Rothschild
  • Royal Bank of Scotland
    • Adam & Company plc
    • Coutts & Co
    • National Westminster Bank plc
    • The Royal Bank of Scotland plc
    • Ulster Bank Limited
  • Santander UK plc
  • TSB Bank plc
  • Virgin Money plc