/Our role
Our role2020-11-14T16:04:00+00:00

Our role – principal activities

The principal activity of Reclaim Fund Ltd (‘RFL’) is that of the receipt 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 RFL, where surplus funds, deemed as being amounts in excess of what is required to meet future reclaims, can be distributed to UK charitable organisations for a variety of good causes dependent on the Scheme Rules.

RFL currently operates two Schemes:

The Main Scheme
Facilitating larger banks and building societies to transfer money from their darmant accounts to RFL to fund good causes across the UK.

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The Alternative Scheme
Enabling building societies and banks with balance sheet values below £7bn to utilise their qualifying dormant accounts to support their favoured local and aligned charities

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Participation in either scheme enables the bank or building society to utilise their dormant account monies for the benefit of good causes. In accordance with The Act, the right of account holders to reclaim their dormant balance is protected in perpetuity by the transfer of the individual’s claim against the bank or building society to RFL.

The strategy of 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 and other reasonable expenses

Baroness Barran MBE
Minister for Civil Society


The Dormant Assets Scheme is an excellent example of responsible collaboration between industry, government and civil society. To date, participating banks and building societies have transferred £1.35bn into the scheme, with £745m released to fund high-impact social programmes across the UK. The UK has long been at the global forefront of deploying dormant assets at scale and work is currently underway to expand the scheme to a wider range of financial assets enabling us to push this frontier even further.”

FAQ's

Answers to the most common questions regarding who we are and what we do

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FAQ's

Answers to the most common questions regarding who we are and what we do

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