Guernsey dormant accounts cash plans for good causes approved

Previous estimates said there was more than £1m in dormant accounts in Guernsey

Plans to use money left in dormant bank accounts in Guernsey to fund selected good causes have been initially approved by the States.

The approval means work will get under way on a scheme to transfer money from accounts untouched for 15 years or more to a central pot.

The Policy and Resources Committee would oversee its distribution.

The proposals have been sent to law officers to see if they can go ahead.

If made law, the proposals, put together in a policy letter in December 2020, would see the creation of statutory central fund called the Bailiwick Dormant Accounts Fund (BDAF).

Spending from the BDAF would either be approved by the Policy Resources Committee, or by an approved grant-giving body "for onward distribution to good causes within the bailiwick", the States said.

In 2013, officials estimated there was just over £1.2m in dormant accounts.

Last June a similar scheme in Jersey was set up to distribute up to £2m of funds in dormant accounts to local charities.

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