A scheme to allow money in dormant bank and building society accounts to be reinvested in society, while protecting consumers' rights to reclaim their money at any time. The scheme states that funds should be reinvested in the community, with a focus on youth services that are responsive to the needs of young people.
- Plans include:
The scheme will apply to bank and building society accounts where there has been no customer-initiated activity for 15 years.
- What people say about it:
Sarah Bellairs, development officer at YouthBank UK, an organisation that offers grants to projects run by young people, welcomes the proposed scheme. She says: "It's great if there's more money available, especially if it's directed at young people."
Register Now to Continue Reading
Thank you for visiting Children & Young People Now and making use of our archive of more than 60,000 expert features, topics hubs, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's Included
-
Free access to 4 subscriber-only articles per month
-
Email newsletter providing advice and guidance across the sector
Already have an account? Sign in here
