Born 2002-2011? You Could Have £2,000+ in Forgotten Cash

There's a good chance you've got cash sitting in an account you've completely forgotten about — and HMRC says hundreds of thousands of young people haven't claimed it. It's called a Child Trust Fund, and finding yours is free.

Who this is for

You're likely affected if you were born between 1 September 2002 and 2 January 2011. The government opened a savings account (and put money into it) for almost every child born in those years. The scheme closed in 2011, but the accounts didn't — they've just been quietly growing. If that's you, or your child, this money is yours to claim.

Why so many are unclaimed

When the scheme started, parents got a voucher to open the account. Many never did — so HMRC opened one automatically on the child's behalf. Years later, nobody remembers it exists. That's how hundreds of thousands of accounts, often worth £2,000 or more, are sitting untouched.

The money has been growing tax-free the whole time — there's no tax on the income or any profit it makes, and it doesn't affect any benefits you receive.

How much is it — and when can you get it?

• The amount depends on what was paid in and how it's grown, but unclaimed pots are often £2,000+.
• You can take control of the account at 16.
• You can withdraw the money at 18.

So if you're 18 or over and have never touched it, the full amount could be waiting for you right now.

How to find your Child Trust Fund (free, about 3 weeks)

1. Ask your parents first. They may know which provider (bank or building society) the account is with. If you know the provider, just contact them directly — that's the fastest route.

2. Don't know the provider? Ask HMRC — it's free. HMRC can tell you where the account was originally opened. Use the official free tool at gov.uk/child-trust-funds/find-a-child-trust-fund.

What you'll need:

• If you're 16 or over: your National Insurance number.
• If you're a parent claiming for a child: the child's full name, address and date of birth, plus any previous names.

Tip: you have to complete the form in one go — you can't save and come back, so have your details ready before you start.

3. Wait for the reply. Online requests usually get an answer within 3 weeks (post takes longer). HMRC tells you the provider; you then contact them to get the balance and claim the cash.

Note: HMRC will tell you where the account is, but not how much is in it — the provider gives you the balance.

What to do once you've found it

At 18 you can withdraw the money, or move it somewhere it keeps growing tax-free (an adult ISA). Don't rush to spend it — but don't leave it lost either.