Overview

• Some 671,000 Child Trust Fund accounts hold an average of £2,212 each, totalling £1.4 billion in unclaimed savings across the UK.
• Eligibility extends to individuals born between September 2002 and January 2011 who can take control of their account at 16 and access funds at 18.
• Account holders and parents of 16- to 18-year-olds can use the HMRC’s free online tool with a Government Gateway ID to identify which provider holds their Child Trust Fund.
• Once the provider is confirmed, users can contact that bank or building society directly to withdraw or transfer their savings.
• Consumer advisers at MoneySavingExpert warn that paid tracing services are unnecessary and may charge hundreds of pounds in fees.