The Alternative Scheme enables the participation of smaller Banks and Building Societies with assets valued at less than £7 billion.
Instead of the money being distributed via The National Lottery Community Fund, firms can directly support their chosen charities. Many participants use this money to fund a Foundation or other local charities that meet their social purpose and directly support the communities of which they are a part.
In making the Scheme part of their ESG credentials, firms can show their customers, staff, and shareholders that they are making a genuine contribution to society.
A proven model, trusted by leading institutions
Today, many of the UK’s smaller Banks and Building Societies are using the Alternative Scheme to create tangible, real-life impact in their communities.
These include:
- Cambridge Building Society
- Newcastle Building Society
- Marsden Building Society
- Hanley Economic Building Society
- West Brom Building Society
- Leek Building Society
- Saffron Building Society
- The Vernon Building Society
- Buckinghamshire Building Society
- Reliance Bank
- Coventry Building Society
Their involvement reflects a shared commitment to responsible stewardship, customer protection and meaningful social impact.
Eligible assets
Dormant bank and building society accounts, including those held within a Cash ISA and suspense accounts, are eligible for the Dormant Assets Scheme. An unclaimed account is defined as dormant after there have been no transactions for 15 years.
Reunification is always the priority, and the Scheme allows firms to keep their vital customer relationships and guarantee their right to reclaim.
Working in partnership with participants
The success of the Scheme is underpinned by strong, collaborative relationships between participating firms and RFL. From large multinationals to small community-based banks, RFL work closely with Banks and Building Societies to support a smooth journey to participation, tailored to each organisation’s systems and processes.
These relationships continue well beyond the initial onboarding. RFL maintain ongoing, trusted partnerships with our participants, supporting regular transfers and reclaims over time.
Banks and Building Societies that are not yet participating can still choose the smart way to unlock the potential of dormant assets.
Dan Wass, CEO, Buckinghamshire Building Society
We are proud to announce our partnership with Reclaim Fund, marking a significant step forward in our commitment to social responsibility and community engagement. As a building society deeply rooted in mutual values, our decision to join the Scheme is driven by a desire to harness the untapped potential of dormant account balances and channel these resources into initiatives that have a profound impact on local lives and needs. We look forward to seeing the positive transformations that this partnership will enable.
Banks and Building Societies
The Banks and Building Societies sector is where the Dormant Assets Scheme began, and
Insurance and Pensions
In 2023, Reclaim Fund Ltd opened the Dormant Assets Scheme to include long-term Insur
Investment and Wealth Management
In 2025, Reclaim Fund Ltd opened the Dormant Assets Scheme to Investment and Wealth M