FINANCE NEWS: Charity Bank signs up to search list of unclaimed assets

The Charity Bank, which provides affordable loans for charitable causes, has become the first bank to join the Unclaimed Assets Register, a database of unclaimed financial assets in UK companies and financial institutions.

The register contains details of the lost owners of life policies, personal and occupational pensions, share dividends and unit trusts.

Ten per cent of the £18 fee for searching the register is donated to Sharegift, which passes the proceeds to charities.

Since its launch in 2000, the register has reunited more than £4 million with rightful owners. People can lose touch with their assets when they move house and forget to inform financial institutions of their new address.

Malcolm Hayday, chief executive of Charity Bank, said joining the register was part of meeting high corporate governance standards. "We are keen to maintain contact with our customers and ensure they do not lose their entitlements through a change of address."

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