Knowledgebase
Logiciel Help and Support Online > Logiciel Help and Support Online > Knowledgebase

Search help:


Dormant Account

Solution

What is the meaning of Dormant Account?

DORMANT ACCOUNT

When there has been no financial activity for a long period of time, other than posting of interest, an account can be classified as dormant. Statute of limitations usually does not apply to dormant accounts, and funds can be claimed by the owner or beneficiary at any time. Many banks have accounts that have been left dormant for years because the account holders have forgotten about them.

Attachments:
concap...png concap...png

 
Was this article helpful? yes / no
Article details
Article ID: 3
Category: Frequently Asked Questions (FAQ)
Date added: 2015-01-21 09:04:16
Views: 342
Rating (Votes): Article rated 3.3/5.0 (14)

 
« Go back

 
Powered by Help Desk Software HESK - brought to you by Help Desk Software SysAid