savings missing ?

Fionarose

Hi ,
My husband opened a savings account with Iri** Li** back in 1978 at 18yrs of age.He paid into it for 10yrs when his marriage fell apart, he moved out of the home and forgot to notify the bank of change of address.He forgot completely about it till now! Anyhow he rang the bank but was told there was no reccord of it.Any suggestions as to what we do next?
Thanks in advance.

BuffyBot

If it's that long ago, it may have been classified as a dormant account.

See: http://www.citizensinformation.ie/en/money_and_tax/personal_finance/financial_institutions/dormant_bank_accounts_in_ireland.html

phormium

Irish Life had a building society which was taken over by First National Building Society years ago, they in turn have been amalgamated with Ulster Bank. Probably a dormant account at this stage though.

Fionarose

thank you for taking time to reply,
Does that mean that the money is gone?
Regards Fiona.

BuffyBot

Did you read the link above? It spells out what happens to dormant accounts pretty clearly.