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An account is considered dormant if it has not had any customer activity for 15 years.

In Northern Ireland, a dormant charity program is finally being set up.

Dormant bank accounts are those where no customer-initiated activities have taken place for at least 15 years.

In other parts of the UK, this money has been used for charity for more than 10 years.

In Northern Ireland, however, attempts to develop a program were involved in political disputes.

  • Dormant account money to help the homeless
  • Charities set at £ 2 billion

The intention to develop a program was announced on four separate occasions by four different ministers.

Now the Ministry of Finance has announced that a program will be launched this fiscal year.

The money will help to finance charitable and voluntary services that would normally not attract public money in a program monitored by the National Lottery Community Fund.

Trust and stability

In the announcement, Secretary of State for the Treasury, Sue Gray, said that the program will initially have GBP 16 million available to finance the resilience and sustainability of voluntary groups.

At present, there are no ministers in Stormont, but high-ranking officials have the power to make decisions.

The main principle is that they can make decisions that follow the clear political intentions of the last ministers of Stormont.

& # 39; increase capacity & # 39;

"We are pleased to receive instructions for dormant accounts from the Treasury Department that will allow us to proceed with the delivery now," said Kate Beggs, director of the National Lottery Community Fund in Northern Ireland.

"This will provide much needed resources to increase capacity, resilience and sustainability in the third sector, and to support organizations that are doing important work in communities across Northern Ireland."