There is another issue here—the rate of interest. The Committee will be aware that banks and building societies keep changing the style of their accounts. I have not heard of a brass account—they usually talk about gold, silver and platinum and so on—but if you do not watch it they say, ““This issue is now closed and has a reduced rate because we have now got the double gold account””. If people ultimately turned up to claim their money, the dormancy position would perhaps be a code of conduct or a banking code issue.
Dormant Bank and Building Society Accounts Bill [HL]
Proceeding contribution from
Lord Shutt of Greetland
(Liberal Democrat)
in the House of Lords on Monday, 10 December 2007.
It occurred during Debate on bills
and
Committee proceeding on Dormant Bank and Building Society Accounts Bill [HL].
Type
Proceeding contribution
Reference
697 c24GC 
Session
2007-08
Chamber / Committee
House of Lords Grand Committee
Subjects
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Timestamp
2023-12-16 02:31:56 +0000
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