Dormant account meaning: In simple words

In simple words, a dormant account is a bank account that has not been used for a long time . It means that you have not added or withdrawn any money, have not used your ATM or net banking facilities or have not paid any bills through this account. A dormant account is a financial account that shows no activity for a long period of time . Usually, this refers to checking and saving bank accounts that have not had money withdrawn from them for at least months. A dormant account is an inactive bank account with no transactions for a set period . Learn the meaning of dormant account, why it happens, and easy steps on how to activate your dormant account to avoid penalties and regain access. Dormant accounts are financial deposits with no recent activity , often forgotten by owners. They can become state-held property after a specific dormancy period but remain retrievable. Learn...