Dormant Account Meaning

Dormant Account Meaning

Dormant Account Meaning

Definition of dormant account: In general, a low-balance savings account which has shown no activity (deposits and/or withdrawals) over a long period, other .
A statute of limitations usually does not apply to dormant accounts, meaning that funds can be claimed by the owner or beneficiary at any time. Financial .
dormant account definition: a bank account that has not had any money put into it or taken out of it for a long period of time: . Learn more.
Define dormant account. dormant account synonyms, dormant account pronunciation, dormant account translation, English dictionary definition of dormant .
Definition of dormant account: An account with a zero or low balance that has no recorded transactions for an extended period of time. Under state.
When an account becomes dormant it is closed down and the money is. They will have the means to check your account's status and track down your funds.

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