His Majesty's Revenue and Customs (HMRC) has issued an urgent warning to parents to check if their child has a forgotten savings account.

If so, they could be owed over £2,000 in unclaimed funds.

Child Trust Funds were saving accounts given to children born between September 1, 2002 and January 2, 2011.

Each child was given a voucher worth £250 - or £500 for those from lower income families - in order to start the account.

Families could then add up to £9,000 a year into the fund.

The scheme ended in 2011, so no new accounts were opened from that point onwards.

If the parent didn't open a Child Trust Fund, then HMRC would have opened one on behalf of the child - this means there are thousands of young people across the country that may not realise they have one.

The most recent figures published by HMRC estimate that more than 670,000 people aged 18 to 22 have yet to claim their Child Trust Fund.

On average, each account is worth £2,212.

In a post on X, HMRC said: "If your child is between 18 and 22, they can cash in their #ChildTrustFund. The average amount claimed is £2,200."

If you know the name of your Child Trust Fund provider, you can contact them directly to find out more about your account.

If you're unsure who your provider was, you can use the government's free tool.

You will need your National Insurance number and Government Gateway - this is free to create - to fill out the online form.

Once you've entered the right information, HMRC should tell you the name of the Child Trust Fund provider within three weeks.

You can also request details by post by writing to: Charities, Savings and International 1, HMRC, BX9 1AU.

Try to include as many details as possible, such as the full name, date of birth and address of the account holder, plus their National Insurance number.