The Scheme

Reclaim Fund was established in 2011, following the enactment of the Dormant Bank and Building Society Accounts Act 2008 and the completion of the regulatory regime.

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 (‘the Company’ or ‘RFL’), a wholly owned subsidiary of Co-operative Banking Group Ltd (‘CBG’), was incorporated on 13 August 2010 and commenced operations on 28 March 2011. It is authorised and regulated 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 is that of the collection and management of dormant account monies.

The Dormant Bank and Building Society Accounts Act 2008 (‘The Act’) enables those 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 wholly aligned to the operational activities authorised by the Act, 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:

  • Allied Irish Bank (UK) p.l.c.
  • ANZ – London branch
  • Bank Hapoalim – London branch
  • Barclays Bank PLC
  • Butterfield
  • Commonwealth Bank of Australia – London branch
  • Consolidated Credits Bank Ltd
  • Clydesdale Bank PLC
  • The Co-operative Bank plc
  • Danske Bank
  • Duncan Lawrie Limited
  • Emirates NBD – London branch
  • 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