What Reclaim Fund does

Reclaim Fund Ltd (RFL) is the UK government-authorized operator of the Dormant Assets Scheme, operating as a Non-Departmental Public Body wholly owned by HM Treasury and regulated by the Financial Conduct Authority (No. 536551). Established in 2010 and operational since March 2011, RFL receives dormant assets (bank and building society accounts, insurance policies, pensions, investment assets, and securities) from participating UK financial institutions, maintains a perpetual reserve to repay those funds if customers come forward, and distributes the surplus to The National Lottery Community Fund for charitable purposes. Since inception, RFL has distributed over £1.1 billion to good causes, reunited 200,000+ customers with their assets, and supported 2,700+ charitable organizations, with 50+ financial institutions currently participating across banks, building societies, insurers, and asset managers.

RFL's product portfolio consists of the Main Scheme (for major banks and building societies), the Alternative Scheme (for smaller institutions under £7 billion in assets), and sector-specific modules covering Insurance & Pensions (launched 2023), Investment & Wealth Management (launched 2025), UK Plcs securities, Client Money (in development), and Unwanted Assets. The organization operates as a B2B enterprise with a dedicated account management team executing Transfer and Agency Agreements with each participant; the go-to-market is direct enterprise field sales supplemented by partnerships with the Association of British Insurers and the Investment Association, which publish sector participation guides. RFL does not develop proprietary technology and does not charge fees to financial institutions for participation; the operating model is funded through retained investment income on the reserve portfolio held against potential customer reclaims.

The business model is structurally not-for-profit: RFL generates no traditional revenue from scheme participation and is instead sustained as an Arm's Length Body with governance managed by UK Government Investments under a Framework Document with HM Treasury. Operational expansion is driven by legislative action, most recently the Dormant Assets Act 2022, which opened the scheme to new asset classes. With registered offices in London and operational headquarters in Crewe, RFL serves exclusively the UK market under statutory authority granted by the Dormant Assets Acts 2008-2022.

Name

Reclaim Fund

Legal name

Reclaim Fund Ltd

Website

https://reclaimfund.co.uk

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Reclaim Fund Ltd is the UK government-authorized Arm's Length Body that operates the Dormant Assets Scheme, receiving dormant assets from financial institutions, maintaining perpetual reserves for customer reclaims, and distributing surpluses to charitable causes.

Ownership category

akta.pro rank

Product category

Dormant Asset Management Services

NAICS

Trusts, Estates, and Agency Accounts (52592), Repossession Services (561491), Pension Funds (525110), Other Insurance Funds (52519)

SIC

Finance Services (6199), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Asset Recovery, Surplus & Decommissioning Services (EUAIANAD)

akta.pro secondary industries

Repossession & Asset Recovery (Non-mortgage) (FSAKAJAF), Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC)

Keywords

• Dormant assets management
• Financial inclusion scheme
• Asset reunification services
• Community fund distribution
• Unclaimed assets scheme

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Dormant Asset Management: Reclaim Fund Ltd is a not-for-profit organization that receives dormant assets from participating financial institutions, manages a reserve for potential customer reclaims, and distributes surplus funds to The National Lottery Community Fund for good causes. The organization does not generate revenue in the traditional sense but operates to fulfill its social mission of unlocking dormant assets for societal benefit while protecting consumer rights to reclaim funds in perpetuity.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Reclaim Fund Ltd operates the UK's Dormant Assets Scheme, enabling participating financial institutions (banks, building societies, insurers, pension providers, and investment/wealth managers) to transfer dormant asset liability to RFL while preserving customers' perpetual right to reclaim. RFL receives dormant funds, maintains a reserve to repay firms if customers come forward, and distributes surplus funds to The National Lottery Community Fund for good causes across the UK.

Product overview

Reclaim Fund Ltd operates the UK's Dormant Assets Scheme as a single unified service. The Scheme encompasses the Main Scheme for major Banks & Building Societies, the Alternative Scheme for smaller institutions with assets under £7 billion, and sector-specific modules for Insurance & Pensions (opened 2023), Investment & Wealth Management (opened 2025), Securities (UK plcs), Client Money (in development), and Unwanted Assets. All sectors share the core platform of receiving, managing, and distributing dormant asset funds while protecting consumers' lifelong right to reclaim.

Differentiator

Problem solved

Functional benefit

Brands

• Dormant Assets Scheme: The UK's Dormant Assets Scheme operated by Reclaim Fund Ltd, allowing financial institutions to transfer dormant assets to benefit good causes while protecting consumers' rights to reclaim.

Products and services

• Dormant Assets Scheme The umbrella service operated by Reclaim Fund Ltd enabling UK financial institutions to transfer dormant assets to support good causes while protecting consumers' right to reclaim their money in perpetuity. Distributes surplus funds to The National Lottery Community Fund.
• The Main Scheme The primary Dormant Assets Scheme for Banks & Building Societies, allowing major financial institutions to transfer dormant bank account, building society account, Cash ISA, and suspense account funds for social impact via The National Lottery Community Fund.
• The Alternative Scheme

Quantifiable outcome

• Over £1.1 billion distributed to The National Lottery Community Fund for good causes
• +3 more outcomes

Named customers16 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered flagship, core and minor.

• JupiterflagshipStrategic or Co-development Partner · 1 January 2025Jupiter joined as one of four industry frontrunners to launch the Investment and Wealth Management sector of the Dormant Assets Scheme in 2025.
• SchrodersflagshipStrategic or Co-development Partner · 1 January 2025Schroders joined as one of four industry frontrunners to launch the Investment and Wealth Management sector of the Dormant Assets Scheme in 2025.
• J.P. MorganflagshipStrategic or Co-development Partner · 1 January 2025J.P. Morgan joined as one of four industry frontrunners to launch the Investment and Wealth Management sector of the Dormant Assets Scheme in 2025.
• Janus HendersonflagshipStrategic or Co-development Partner · 1 January 2025Janus Henderson joined as one of four industry frontrunners to launch the Investment and Wealth Management sector of the Dormant Assets Scheme in 2025.
• Investment AssociationcoreStrategic or Co-development Partner · 1 January 2025The Investment Association published a participation guide in 2025 to help Investment and Wealth Management firms understand how the Scheme operates and prepare for participation.
• Legal & GeneralflagshipStrategic or Co-development Partner · 1 August 2023Legal & General joined the scheme a month after Aviva, becoming the second insurance and pensions participant. L&G made a test transfer of pensions assets and is set to be the first participant to participate across all asset types for which it is eligible.
• AvivaflagshipStrategic or Co-development Partner · 1 June 2023Aviva became the first insurance and pensions provider to join the expanded Dormant Assets Scheme in June 2023. Having worked with RFL and the wider dormant assets community since 2016, Aviva completed the first transfer of dormant assets from the Insurance and Pensions sector.
• Association of British Insurers (ABI)coreStrategic or Co-development Partner · 1 January 2023The ABI has been a proactive supporter of the Scheme expansion to Insurance and Pensions. The association developed a Participation Guide to help companies prepare for joining the Scheme.
• Department for Culture, Media and SportminorOthers · 1 January 2022DCMS owns Dormant Assets Policy and works with RFL on scheme expansion and policy direction.
• Crown Commercial ServiceminorOthers · 1 January 2022As an ALB of Government, RFL utilizes Frameworks via Crown Commercial Service (CCS) for procurement of suppliers and services.
• UK Government InvestmentscoreOthers · 1 January 2021UK Government Investments (UKGI) manages the shareholder relationship with RFL on behalf of HM Treasury. The governance arrangements are set out in a Framework Document.
• HM TreasuryflagshipOthers · 28 March 2011Reclaim Fund Ltd is wholly owned by HM Treasury. As an Arm's Length Body (ALB) and Non-Departmental Public Body (NDPB), RFL operates independently with an appointed Board and Executive while being ultimately owned by His Majesty's Treasury. The ownership was transferred from Angel Square Investments (formerly The Co-operative Banking Group Limited) to HM Treasury on 30 March 2021.
• The National Lottery Community FundcoreOthers · 1 January 2011RFL distributes surplus dormant asset funds (after reserving for potential reclaims) to The National Lottery Community Fund, which then channels funding to good causes across the UK. Over £1.1 billion has been distributed through this partnership since the scheme inception.
• Financial Conduct AuthoritycoreOthers · 1 January 2011Reclaim Fund Ltd is authorized and regulated by the Financial Conduct Authority (FCA No. 536551). The FCA provides regulatory oversight ensuring consumer protection and scheme compliance.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Regional players

• Deutsche Bundesbank: Germany's central bank, which oversees and operationalises elements of Germany's dormant assets framework through the Gematik/Stiftung-style infrastructure. Comparable as a regulator/operator of unclaimed financial assets in a different jurisdiction.
• California State Controller's Office — Unclaimed Property Division: California's government-run unclaimed property programme holding billions in dormant financial assets and reuniting them with owners. A close international analogue to the UK Dormant Assets Scheme, but US-state-administered rather than national.

Others

• Association of British Insurers (ABI): UK insurance industry trade body that published the participation guide for RFL's Insurance & Pensions sector expansion. A key ecosystem enabler — not a competitor, but instrumental in driving voluntary participant adoption.
• UK Government Investments (UKGI): Manages the UK government's shareholder interest in Reclaim Fund Ltd on behalf of HM Treasury. A direct governance partner rather than a competitor, but tightly coupled to RFL's operational direction and oversight.

Direct peers

• Caisse des Dépôts et Consignations: France's state-owned financial institution that manages consigned and unclaimed assets on behalf of the public, including dormant and fiduciary funds. Closely comparable to RFL in its government-backed monopoly over unclaimed asset management and its public-interest mission.

Broad incumbents

• National Lottery Community Fund: The UK's largest community funder and the statutory recipient of surplus dormant asset distributions from Reclaim Fund Ltd. Operates the charitable distribution side of the value chain that RFL feeds, sharing the social-impact mandate but on the grant-making side rather than asset-management side.

Emerging players

• My Lost Account: UK free service that helps reunite customers with dormant bank and building society accounts — explicitly referenced on RFL's homepage as a tracing partner. Operates in the same customer-reclaim ecosystem but from the tracing/routing side rather than the asset-management side.
• Gretel (Tracing Group): A UK dormant-asset tracing service listed by RFL as a partner for individuals seeking multiple asset types. Comparable as an adjacent operator in the customer-reclaim flow that complements RFL's scheme.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/reclaim-fund-ltd
• Xx.com/script

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reclaim Fund