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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 dormant accounts to RFL to fund good causes across the UK.


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


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