Inactive Bank Accounts: Consequences and Reactivation

If you don't use your bank account for two years, it becomes 'dormant.'

This means you can't easily make transactions.

The bank sends a reminder after a year.

After ten years of inactivity, the money goes to a government fund.

However, the account continues to earn interest.

To fix this, update your information and ask the bank to reactivate the account.

You can prevent dormancy by making small transactions, setting up automatic payments, or using your card.