Would your loved ones know where to find your savings?
Most UK savers feel confident their loved ones could find their savings if they passed away. But our research reveals a gap between that confidence and what families actually know.
This article is not advice. If you would like to receive advice on your savings and investments, consider speaking to a Financial Adviser.
Many of us spend a lifetime building our savings. But if something happened to us, could the people we love find them? Our research suggests many families could struggle to locate all their loved one’s cash savings at an already difficult time.
We surveyed 3,000 UK adults about how confident they are that the person handling their financial affairs could find all their savings – and whether that person knows which providers hold them.
More than three-quarters (78%) of savers are confident that their loved ones could find all their savings if they passed away. Yet fewer than half (46%) say that person knows all the banks, building societies, and other providers holding their cash.
Savers may believe they’re prepared, but there’s a gap between feeling confident and making sure loved ones have the information they need to handle the estate.
Most savers hold cash with more than one provider
Holding cash across multiple providers can help you to keep more of your money within FSCS protection limits. It can also give you access to a wider choice of interest rates.
But it’s just as important that loved ones can trace those savings and access your financial legacy when the time comes.
Almost three in five (59%) savers hold their cash with more than one provider, with the average saver holding cash across 2.25 providers.
For those with £100,000 or more in cash savings, this increases to an average of 4.15 providers.
When someone holds savings accounts across a handful of providers, up-to-date records can help loved ones see where those savings are.
It’s not only those left behind who may struggle to locate savings. Three in ten (30%) savers say they have accounts they no longer regularly check or may have lost track of.
Confidence is not the same as preparation
Despite the potential challenges, many savers have yet to take practical steps to help loved ones find their money:
More than a quarter (26%) of savers say they’ve done nothing to help someone locate their savings if they died.
Fewer than one in five (17%) keep records of their savings with their will or estate planning documents.
Even among affluent savers, not everyone writes down the details.
Among those with £100,000 or more in cash savings, more than one in 10 (11%) have taken no steps to help someone find their cash savings.
Savers risk leaving gaps in information that loved ones will need. Even keeping a basic record of savings providers can be a great starting point for those handling your affairs should something happen to you.
Families could be left searching for answers
It’s not just our own finances to consider.
Many people eventually help a parent, step-parent, or older relative manage their financial affairs. Yet our findings show that some struggle to locate all their relative’s cash savings – or even know if there are any to be found.
Among those with an older relative whose financial affairs they’d be likely to deal with, only 32% know all of the providers that relative uses, and 17% do not know whether their relative has any cash savings at all.
Families also need to consider the changing pension landscape. Most unused pension funds and pension death benefits will also fall within the scope of Inheritance Tax from 06 April 2027. So, it’s becoming increasingly important for families to know where money is held and have a clearer picture of an estate.
How you can make it easier for loved ones to find what matters?
Nobody wants to leave their family with a financial mystery to solve. Here’s a five-step TRACE guide you can use:
T – Track your savings providers
Think about where you hold cash savings, like banks, building societies, and other providers, and make a list of these. Savings platforms can give you greater visibility of which providers hold your savings.
R – Review your records regularly
Review your record of savings providers when you open or close accounts, or move money between providers. This is particularly important when using a savings platform, where you can move your cash as rates change.
A – Arrange secure storage
If you’re storing this information on an electronic device, for example, make sure it’s password protected. And check the people who need it know how to access it.
C – Communicate with loved ones
All this preparation only works if your loved ones know where to look. Tell a trusted person who’s likely to handle your affairs where they can find key information. Remember to give them access to any password-protected documents they might need later.
E – Encourage older relatives to do the same
Where it feels appropriate, talk to older relatives about legacy planning and encourage them to follow these steps, if they’ve not already done so.
If you’re thinking about legacy planning but not sure where to begin, watch our Legacy Conversations series for practical guidance on passing on wealth.
Methodology
We surveyed 3,000 UK adults who have cash savings. Fieldwork ran from 08 to 13 October 2026. We asked respondents the following questions:
How many different banks, building societies, or other providers do you currently hold cash savings with?
Thinking specifically about records showing where your cash savings are held, how organised or disorganised, if at all, would you say your records are?
If you died, how confident are you, if at all, that the person dealing with your financial affairs could find all the banks, building societies, and other providers where your cash savings are held?
Does the person likely to deal with your financial affairs know all the banks, building societies, and other providers where your cash savings are held?
What, if anything, have you done to help someone find where your cash savings are held if you died?
When, if ever, did you last check that your record of where your cash savings are held was complete and up to date?
Do you have any cash savings accounts that you no longer regularly check or that you may have lost track of?
