/How to join
How to join2020-11-14T17:13:55+00:00

How to join

The Dormant Assets Scheme is currently open to all banks and building societies who
have a UK base or operation.

As a responsible business, joining the Scheme will enable your organisation to release dormant assets that can provide vital funding in creating a lasting social impact, whilst protecting your customer’s right to reclaim. The success of the Scheme to date is owed to its three principles: reunification, voluntary participation and full restitution in perpetuity.

The Main Scheme

Across the UK, dormant account funds are focused on social and environmental causes. In England, this is
further directed to social investment, youth and financial inclusion. The focus on these three areas enables the
scheme to create a lasting legacy, driving systemic change to address entrenched social issues and provents
its impact from being diluted.

Our main scheme handbook will give you an insight into the steps you need to take in order to join the scheme, together with outlines for the transfer and reclaim processes.

PARTICIPANT BENEFITS

  • A shared vision with industry peers to create a lasting legacy and drive systemic change
  • Transfer of liability to repay the customer to RFL
  • Continuous and seamless customer experience with your organisation maintaining the customer relationship
  • The customer is able to reclaim their funds in full and with no time limitation
  • A highly experienced RFL team
  • An expert relationship manager
  • Regular news from across the dormant asset ecosystem

The Alternative Scheme

Should you meet the eligibility criteria, this scheme allows your organisation to channel dormant account funds to a local or aligned charity/charities, releasing funds to fulfil local aims and meet the needs of your community.

Our alternative scheme handbook will give you an insight into the steps you need to take in order to join the scheme, together with the eligibility criteria for your chosen charity.

PARTICIPANT BENEFITS

  • Ability to choose local or aligned charities (subject to criteria)
  • Transfer of liability to repay the customer to RFL
  • Continuous and seamless customer experience with your organisation maintaining the customer relationship
  • The customer is able to reclaim their funds in full and with no time limitation
  • A highly experienced RFL team
  • An expert relationship manager
  • Regular news from across the dormant asset ecosystem

If you would like to join or have any questions regarding either scheme please do not hesitate to contact us reclaimfund@reclaimfund.co.uk

There are plans to expand the Dormant Assets Scheme beyond banks and building societies. Find out more about scheme expansion here.

The Main Scheme Handbook

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The Alternative Scheme Handbook

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Scheme expansion

Government plans to expand the Dormant Assets Scheme beyond banks and building societies. FIND OUT MORE