when do accounts become dormant?
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iain
Apprentice
Joined: 13 Sep 2006
Posts: 3
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 Posted: 10/13/07 - 08:18 Post subject: |
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| Last couple of years I have been living in four different towns. Five days ago, I decided to visit my bank and to check my account. I discovered that I have a problem with my account. People from bank informed me that my account become dormant. Can someone explain to me what they meant with this statement? |
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ximenes
Apprentice
Joined: 12 Aug 2005
Posts: 4
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| Posted: 11/08/07 - 01:34 Post subject: |
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| An account may become dormant when the owner has died or simple forgot about it. The time that is necessary for the declaring this state depends and varies from bank to bank. The period is usually between three and fifteen years. Your bank probably send you many letters but since you have been moving a lot, you probably never receive them. Since you never withdrawn or deposit money and they could not reach you in any way they declare your account dormant. |
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