UK government to use funds from dormant bank accounts for charity

By Andy Rice 19 July 2010

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

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