Latest money news: Hundreds of thousands could have £2,200 in ‘forgotten’ child trust fund --[Reported by Umva mag]

Welcome to Metro.co.uk’s money blog — today we’re covering ways to get cheaper winter bills and the massive headache TSB gave customers this morning.

But the big news from HM Revenue and Customs (HMRC) is that more than 670,000 young people might be sitting on a pile of free money.

Child Trust Funds were made for people born between September 1, 2002 and January 2, 2011, as part of a government scheme. But tax officials say that many of these savings accounts are now gathering dust, likely forgotten or made without the young person even realising, and most have a windfall of £2,200 on average.

Meanwhile, hundreds of people experienced issues with the high street bank TSB earlier today. Users on X described not receiving money into their accounts, including salary, pension and benefit payments. TSB says the technical glitch has now been fixed.

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