Parents who had children between 2002 and 2011 urged to check for unclaimed £2,200

Thousands could have money waiting

Through a post on X, HMRC has reminded parents that some children could have money sitting in old Child Trust Fund accounts. 

Those born between 1 September 2002 and 2 January 2011 may have around £2,200 saved, with some accounts worth even more.

The government launched Child Trust Funds as tax-free savings accounts designed to give children a financial boost when they became adults. 

Every eligible child received an automatic £250 payment from the government when their Child Trust Fund was opened. 

The money was then managed by banks, building societies or other savings providers until the account matured.

Once a child turns 16, they can take control of their account, but the funds cannot usually be withdrawn until they reach 18, when the account officially matures.

Many people may not realise they still have money available, especially if they do not know which provider holds their account. 

Those who have their provider details can contact them directly, while anyone unsure can use the Child Trust Fund lookup service on GOV.UK.

To find the account details, young people will need their date of birth and National Insurance number, which can be found through the HMRC app.