/Our role / The Alternative Scheme
Our role / The Alternative Scheme2019-05-28T08:46:12+00:00

The Alternative Scheme

The Alternative Scheme enables building societies and banks with balance sheet values below £7bn, that choose to participate (‘participants’), to utilise their qualifying dormant accounts to support their favoured local and aligned charities.

The Scheme (in compliance with the Dormant Bank and Building Society Accounts Act 2008) ensures that the right of account holders to reclaim their money, at any time, is protected in perpetuity by transferring the individual’s claim against the bank or building society to RFL.

RFL welcomed Newcastle Building Society as its first participant of the Alternative Scheme in May 2019.