More than 670,000 young people are yet to claim their Child Trust Fund savings.

HM Revenue and Customs (HMRC) has revealed that the average unclaimed savings pot is worth £2,212.

The funds are long-term, tax-free savings accounts, with each account initially set up with a £250 government deposit for every child born between September 1, 2002, and January 2, 2011.

Read more: Lygon Arms Hotel in Broadway earns 4 Red Stars at AA Awards

Angela MacDonald, HMRC's second permanent secretary and deputy chief executive, said: "Thousands of Child Trust Fund accounts are sitting unclaimed – we want to reunite young people with their money and we’re making the process as simple as possible.

"You don’t need to pay anyone to find your Child Trust Fund for you, locate yours today by searching ‘find your Child Trust Fund’ on GOV.UK."

The Share Foundation has linked over 65,000 young people to their accounts.

Gavin Oldham from foundation said: "If you are 18-21 years old, the government would have put money aside for you shortly after birth.

"This investment would have grown quite a bit and it’s in your name."

More information on the funds and how to access your savings can be found on the government website (GOV.UK).