Could your unclaimed Child Trust Fund be an unexpected Christmas present? 

Did you know that if you were born between 1 September 2002 and 2 January 2011, you might have a Child Trust Fund in your name – and it could be worth thousands of pounds?

The Child Trust Fund was a Government savings scheme designed to give every child a small pot of money to start adulthood with. Children who were born during the eligible period automatically had an account opened for them, with at least £250 in to start off, with families able to add more across the years. Once you turned 18, the account matured and the money became yours to withdraw or reinvest. 

The scheme closed for new account in 2011, but millions of people are only now old enough to access their savings – and thousands don’t even realise they have one.  

Average of £2,242 going unclaimed

Recent Government figures show around 758,000 young people aged 18 to 23 haven’t claimed their Child Trust Fund. With an average of £2,242 per account, this adds up the hundreds of millions of pounds sitting unclaimed in banks and investment accounts. 

Many people have lost track – perhaps their parents forgot which provider held the account, or they’ve moved house and no longer get letters for the account. Other may not even know an account was ever opened for them. 

The good news is that its quick and free to check if you have a Child Trust Fund.  

If you know who your provider is, you can contact them directly.  

If you do not know, you can use the Government’s Child Trust Fund finder. You will just need your name, date of birth and National Insurance Number. HMRC will then tell you who holds your account, usually within three weeks. Once you know who the provider is, you can contact them directly to withdraw or move the money. 

Never pay anyone to find your account

The Government tool is free to use – make sure you never pay anyone to find your account.  

For many young adults, a few thousand pounds can make a real difference – whether it is for driving lessons, college costs, rent deposits or simply building up some savings for the future.  

These funds were created to help young people get a fair start in life – do not leave yours sitting unclaimed!