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22 August 2017 01:44 (South Africa)

UK government to use funds from dormant bank accounts for charity

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

The UK government will take unclaimed assets from dormant bank accounts and use the money to fund charity and volunteer groups. Prime Minister David Cameron is set to make a official announcement to this effect on Monday. Under the Dormant Bank and Building Society Act of 2008, a bank account is categorised as dormant when it has been inactive for anything between three and 15 years, depending on the bank.  Read more: Reuters

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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