How to hunt down cash

LOOK out for a letter from a bank informing you of any accounts that are still open in a late relative’s name.

Don’t throw away post from a bank you don’t recognise without opening it.

If you receive a letter, fill in the forms included and send a copy of your ID in the prepaid envelope provided. You should be paid interest at 8 pc on top of the balance.

You can also claim expenses for any costs you incur seeking tax or legal advice. This is important as the extra money could mean you owe inheritance tax.

If you don’t receive a letter, check old paperwork in case there are any documents you’ve missed.

If you are in any doubt, call the bank and ask it to run a search for the person’s name, looking for accounts with and without their middle name and in their maiden name.