Provincial Building Society

[Tyre Smoke]

I found a account book for the above whilst turning out the other day. Opened the account in 1978 with the princely sum of £1.

Anyone care to hazard what it's worth today, £5? And who are the Provincial now? Didn't they get taken over by the Bradford and Bingley?

[birdbrain]

Probably not more than £1. As far as I know, dormant accounts don't collect interest. Please feel free to correct me if this is wrong anyone!

[hedders]

birdbrain said:

Probably not more than £1. As far as I know, dormant accounts don't collect interest. Please feel free to correct me if this is wrong anyone!

I would hope that is not right..who decides the account is dormant? If i put money in a savings account surely it is up to me when i withdraw it or add to it.

Does this mean that if i leave my account overdrawn for long enough they will not charge me interest?

[Munter]

Not only do some not give you interest. If it's a small ammount some charge you to keep your cash there. So you could find you have a balance of 0.

[birdbrain]

If an account has no activity on it after a certain period of time (2 years I think) then they class it as dormant and the money gets put in a special account where they don't give you interest. I had this with Natwest a few years ago.

[Corin Denton]

I'd love it if they gave you your pound note back Rich!

[wedg1e]

birdbrain said:

If an account has no activity on it after a certain period of time (2 years I think) then they class it as dormant and the money gets put in a special account where they don't give you interest. I had this with Natwest a few years ago.

When I worked for Yorkshire it was the Suspended Interest-Bearing Accounts account.... however the bank invested the total deposited there, so they made money from it, though it wasn't passed to the customers...

[birdbrain]

Now there's a surprise!

[telecat]

It was taken over by Abbey National so you may be due some free shares.

[Tyre Smoke]

For a quid?????