Thieving Tory t**ts!

[Filo]

Make sure you`ve got no nest eggs put in bank accounts that you have n`t touched for years, because Cameron and his cronies are going to nick the funds! The thieving t**ts!

Thieving Tories

[big fat yorkshire pudding]

Or you could simply once every few months withdraw a tenner and put it back in thus making it no longer dormant - or is that too simple?  I've never quite understood why anyone would have a dormant account.

Not to mention that of course the money isn't stolen, you can actually get it if you desire.  I fail to see what the issue is?

[The Red Baron]

Mmmm.... and who introduced the legislation? Step forward Gordon Brown.

When he was chancellor in 2005, Gordon Brown mooted the idea of using dormant accounts to fund youth and community projects but was forced to back down after critics warned there would be administrative chaos and questioned whether the government had the legal right to seize the funds.


He raised the idea again in 2007 and in 2008 the Dormant Bank and Building Society Act was passed, giving the government the right to collect and distribute unclaimed money from dormant accounts after 15 years.

Only accounts where there has been no customer activity (no contact with the provider and no transactions on the account) in the 15-year time period are ripe for raiding. However, even if the government reclaims your cash the act allows for you to claim it back.


Just goes to show that when it comes to grabbing your money, party affiliation counts for very little.

[Filo]

big fat yorkshire pudding wrote:

Or you could simply once every few months withdraw a tenner and put it back in thus making it no longer dormant - or is that too simple?  I've never quite understood why anyone would have a dormant account.

Not to mention that of course the money isn't stolen, you can actually get it if you desire.  I fail to see what the issue is?

So if I was to come round to your house and spotted your wallet with wads of money in it lying around \"dormant\" it would be ok for me to take it without asking as long as I give you the chance to claim it back going through a lengthy claims procedure, of course you would have to prove the wallet was yours in the first place!


Taking something thats not yours without asking is thieving in my book

[Glyn_Wigley]

Better that the money is used for the benefit of the country rather than generating profit for the banks.

[Filo]

Glyn_Wigley wrote:

Better that the money is used for the benefit of the country rather than generating profit for the banks.

Hypothetically, I place £1M into a bank account with a decent interest rate and think to myself, in 20 years time there`ll be a nice little pot there for my retirement if I don`t touch it, after 15 years the government, unbeknown to me decides they`re having it, 5 years later I toddle along and want my money but it`s not there, yes I could claim it back but what about the 5 years lost interest I would have earned? It`s thieving, pure and simple!


Like someone else mentioned you could get around the Dormant account thing by setting up direct debits between 2 accounts shifting money backward and forwards and then the government could n`t get their thieving mits on it. unless they decide to pass new legislation  

[MrFrost]

Filo wrote:

Glyn_Wigley wrote:

Better that the money is used for the benefit of the country rather than generating profit for the banks.

Hypothetically, I place £1M into a bank account with a decent interest rate and think to myself, in 20 years time there`ll be a nice little pot there for my retirement if I don`t touch it, after 15 years the government, unbeknown to me decides they`re having it, 5 years later I toddle along and want my money but it`s not there, yes I could claim it back but what about the 5 years lost interest I would have earned? It`s thieving, pure and simple!


Like someone else mentioned you could get around the Dormant account thing by setting up direct debits between 2 accounts shifting money backward and forwards and then the government could n`t get their thieving mits on it. unless they decide to pass new legislation  

It was old Gordon's brainchild though, so maybe you should vent some of your fury at him.
Sky News reported that every attempt will be made to contact the account holders before hand anyway.

[Filo]

MrFrost wrote:

Filo wrote:

Glyn_Wigley wrote:

Better that the money is used for the benefit of the country rather than generating profit for the banks.

Hypothetically, I place £1M into a bank account with a decent interest rate and think to myself, in 20 years time there`ll be a nice little pot there for my retirement if I don`t touch it, after 15 years the government, unbeknown to me decides they`re having it, 5 years later I toddle along and want my money but it`s not there, yes I could claim it back but what about the 5 years lost interest I would have earned? It`s thieving, pure and simple!


Like someone else mentioned you could get around the Dormant account thing by setting up direct debits between 2 accounts shifting money backward and forwards and then the government could n`t get their thieving mits on it. unless they decide to pass new legislation  

It was old Gordon's brainchild though, so maybe you should vent some of your fury at him.
Sky News reported that every attempt will be made to contact the account holders before hand anyway.

Gordon never put it into practice, Cameron can`t wait to rob us all!


























I just knew you would n`t resist              

[big fat yorkshire pudding]

Filo wrote:

big fat yorkshire pudding wrote:

Or you could simply once every few months withdraw a tenner and put it back in thus making it no longer dormant - or is that too simple?  I've never quite understood why anyone would have a dormant account.

Not to mention that of course the money isn't stolen, you can actually get it if you desire.  I fail to see what the issue is?

So if I was to come round to your house and spotted your wallet with wads of money in it lying around \"dormant\" it would be ok for me to take it without asking as long as I give you the chance to claim it back going through a lengthy claims procedure, of course you would have to prove the wallet was yours in the first place!


Taking something thats not yours without asking is thieving in my book

Had it been there for 15 years then I doubt I'd care.  My Mam was on about this a few weeks ago as she had a letter from a bank saying the account was to be classed 'dormant'.  The letter said if she didn't want that all she had to do was to inform them, she did and subsequently they classed it as a transaction and it's no longer 'dormant'.  Pretty simple.

See your analogy forgets that you are informed that your account will be dormant and can say no to it.  So based on your analogy you would have to ask to take my wallet that had been sat there for a number of years.

I see the point you're making, but if your money is to sit there pointlessly (remember dormant it doesn't accrue interest it is just sat there generating the bank an income) then it may as well be used to generate public schemes and you can get it back whenever you choose.  At the end of the day though, as we're all going to be skint thanks to the Tory cuts that will signal financial apocalypse , there won't be any dormant accounts will there  

[nice one rovers]

big fat yorkshire pudding wrote:

Or you could simply once every few months withdraw a tenner and put it back in thus making it no longer dormant - or is that too simple?  I've never quite understood why anyone would have a dormant account.

Not to mention that of course the money isn't stolen, you can actually get it if you desire.  I fail to see what the issue is?

its mainly dead people intestate, and that account you had when you were a kid with the yorkshire penny, you forgot you had it or you left a few pence in it. well while you've been growing up , so has your money.

[nice one rovers]