Thousands of families could still be owed money after National Savings and Investments (NS&I) failed to find some savings accounts belonging to customers who had died.
In an update published on 4 November 2026, NS&I said just under 30,300 estates may have been affected, with savings worth up to £181.9 million.
Of those, up to 15,600 estates have at least £10 in affected savings and are being contacted about repayments.
Some payments have already been issued, but most affected estates haven’t yet been contacted.
If you’ve previously helped sort out a relative’s savings after they died, here’s what you need to know.
What went wrong?
When someone dies, the person dealing with their money and belongings can contact NS&I to claim any savings they held.
However, NS&I discovered that its old search process wasn’t always finding every account belonging to the person who had died.
This meant some families received only part of the savings they were entitled to, without knowing there was more money waiting.
The problem could involve Premium Bonds and other NS&I savings products.
NS&I says it fixed the issue for new and ongoing bereavement claims from January 2026.
Could your family be owed money?
You could be affected if:
- A relative who died had savings with NS&I.
- Someone previously made a claim to recover those savings.
- NS&I failed to find all the accounts when it dealt with that claim.
Having a relative who owned Premium Bonds doesn’t automatically mean money is owed.
NS&I is checking its records and contacting the people who were responsible for dealing with the deceased person’s estate.
This will usually be an executor, who is the person named in a will to deal with someone’s money and belongings, or another person legally responsible for the estate.
If you inherited money but weren’t responsible for handling the estate, you won’t normally hear from NS&I directly.
Instead, the money will be sent to the person dealing with the estate, who must then pass it on to those entitled to receive it.
How to check if you’re owed money
NS&I says it’s contacting affected estates automatically where the missing savings, including accrued interest, total £10 or more.
However, you don’t have to wait for a letter if you think something was missed.
Here’s what you can do.
- Check who dealt with the estate. If a family member or solicitor handled the original claim, ask whether they’ve received anything from NS&I. If possible, find the paperwork from the original claim.
- Contact NS&I about an old claim. If you were responsible for handling the estate and suspect savings were missed, call NS&I on 08085 007 007. Explain that you’re asking about its bereavement repayment scheme. Have the deceased person’s details and any old account information available.
- Trace any savings you can’t find. If you believe a relative had NS&I savings but aren’t sure whether an account was ever claimed, use the free NS&I tracing service. You’ll need to be legally entitled to act on their behalf.
The tracing service is separate from the repayment scheme for accounts missed during earlier bereavement claims.
If you’re trying to find other forgotten savings too, we’ve got a guide explaining how to track down lost bank accounts, Premium Bonds and other missing money.
You don’t need to pay a claims company to contact NS&I or use its free tracing service.
What if less than £10 is owed?
This is one detail worth knowing.
NS&I won’t automatically contact estates where the missing savings and interest total less than £10.
However, the money can still be claimed.
If you believe a small amount was missed, contact NS&I directly rather than waiting for a letter.
Skint Dad says:
The frustrating thing here is that families had already made claims to recover their loved ones’ savings. They’d done the paperwork and reasonably believed everything had been sorted.
NS&I should be doing the work to put that right, without families having to pay someone else to chase their money.
And with some of these claims going back years, the person who originally dealt with the estate may have moved or changed contact details.
That’s why I wouldn’t automatically assume there’s nothing owed just because no letter has arrived.
How much money are families getting back?
NS&I says the average repayment issued so far is £5,486, including additional interest.
However, this doesn’t mean every affected family will receive that amount. Some payments will be much smaller, while others could be considerably larger.
According to its latest figures, correct as at 23 October 2026:
- 795 letters had been sent to affected estates.
- 613 payment warrants, which work similarly to cheques, had been issued.
- £3.36 million in repayments and compensation, including interest, had been issued.
These figures show how much money NS&I has issued so far, rather than confirming every payment has been received or cashed.
It’s also important to understand the headline £181.9 million figure.
This is NS&I’s latest estimate of the value of savings potentially affected. It isn’t a confirmed amount already repaid, and it isn’t the amount of compensation alone.
In March 2026, the estimate was much higher at £476 million. NS&I has since ruled out thousands of cases as it has checked its records, and says the total could fall further.
Will families get extra interest and compensation?
Yes. Affected estates will receive the missing savings, plus an additional amount to make up for the delay.
NS&I says it will use whichever is higher:
- The interest that built up since the original error.
- An amount calculated using the Bank of England base rate plus one percentage point.
Some families might also face extra costs if they need a solicitor or other professional help to deal with an unexpected repayment.
NS&I says its letters will explain how to ask for reasonable legal or administration costs to be reimbursed.
These requests will be considered individually, so repayment of extra costs isn’t guaranteed.
The Government has also announced plans to protect affected estates from certain tax bills.
This includes an Inheritance Tax exemption for the savings affected by the error and relief from certain Income Tax charges for people handling the estate.
The detailed rules still need to be introduced through legislation. You can read more in HMRC’s official explanation of the planned tax changes.
When will the money be paid?
NS&I started writing to affected estates on 27 May 2026.
It says payment warrants are issued within 15 working days of the first letter.
However, most affected estates are still waiting to be contacted.
NS&I expects to complete the repayment scheme during the first half of 2027.
If it can’t find the person responsible for an estate, NS&I says it will continue holding the money, with interest, until the estate can be repaid.
So, if you believe an old claim wasn’t settled properly, it’s worth contacting NS&I rather than assuming everything was paid at the time.
What if you receive an unexpected letter?
NS&I is sending genuine letters to affected estates, but it’s sensible to check any unexpected correspondence before sharing personal information.
If you’re unsure whether a letter is real, contact NS&I using the phone number on its official contact page, rather than relying on details in the letter.
Official-looking letters can be convincing. We previously looked at a fake HMRC tax notice and the warning signs that gave it away.
If the letter is genuine, NS&I should explain what was missed, how much the estate is owed and what happens next.
