Source: Gretel
Gretel, the free online hub which reunites consumers with lost and dormant accounts across the entire financial service industry, has joined forces with ClearScore to help its users find lost or forgotten bank accounts, pensions, and investments.
ClearScore, a market leading credit score app and credit marketplace, will now offer its 13m UK users access to Gretel. This transformational partnership will help ClearScore users quickly track down billions in lost savings and investments at no cost. Gretel’s continuous monitoring means that ClearScore users will be notified every time a new match is identified, providing them with support both now and in the future.
The partnership, which only launched at the end of February, has already attracted thousands of searches, with ClearScore users finding, on average, over £2,200 each.
Duncan Stevens, Chief Executive of Gretel said: “So many people have no idea that they have ‘forgotten’ money that could make a real difference to their lives. Gretel and ClearScore share an unwavering commitment to helping improve the nation’s financial wellbeing, making a partnership between our organisations a great fit. Collaborating with visionary companies like ClearScore enables us to get our message out there far more quickly with the result that many more people can benefit from our free service, and the result to date demonstrates just how impactful that can be.
“We have transformed a process that can take up to three months into three minutes and I am delighted that we have a chance to make a difference to ClearScore users.”
Andy Sleigh, UK CEO from ClearScore said: “We are working with Gretel to give our users that extra bit of help, whatever their situation. It is encouraging to see that thousands of our users have already been able to benefit from finding lost savings and this could not have come at a better time when you consider the squeeze on household finances.”
Gretel calculates that there are almost 21 million customer accounts with a combined value of over £50 billion that have been lost or forgotten by their rightful owners in the UK alone. However, Gretel estimates that the total value could in fact be closer to £78 billion collectively, as by far the biggest pot of unclaimed assets - pensions - is estimated to be in the range of £27 billion - £65 billion.