dormant account

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  • noun

Words related to dormant account

a savings account showing no activity (other than posting interest) for some specified period

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References in periodicals archive ?
In an attempt to provide some relief to customers, the Reserve Bank of India has asked banks not to charge any penalty for non-maintenance of minimum balance in dormant accounts.
OFF-COURSE betting operators will be asked to hand over 75 per cent of any unclaimed winnings or money held in dormant accounts, if recommendations of an 18-month investigation by Lib-Dem MP Don Foster are accepted.
However, despite efforts to cement alliances, some credit unions end up purging a dormant account when the auto loan is paid off.
But it said it was still trying to trace the owners of four accounts with more than pounds 100,000 in them, while it also has 25 dormant accounts with balances of more than pounds 50,000.
Bank customers across Wales face losing more than pounds 8m which has been left lying in dormant accounts.
Sigi Feigel, a prominent leader of Switzerland's Jewish community, welcomed the report saying that it highlights the banks' "incorrectness" during the Holocaust era but also noted that the banks had clearly changed their attitude and praised them for their cooperation in the search for dormant accounts.
The end of the war might have brought greater clarity of vision to the Swiss, but it was, not to be, especially over the dormant accounts, the funds and valuables which had been deposited in Switzerland by Jews who vanished in the Holocaust.
The payer may stop monitoring a dormant account for backup withholding after the third year following the later of the payer's last reportable payment into the account or the receipt of a C Notice.
Steve Eustice, HSBC's dormant account manager, said the greatest difficulty was tracking down customers who had changed address without telling their bank.
People who think they may have a dormant account can visit www.
uk or at the BBA dormant account unit on 020 7216 8909.
Home-movers believing they have a claim to a dormant account should call the BBA Dormant Account Unit on 020 7216 8909, download a claims form from their website at www.
The Coventry is participating in the Dormant Account Scheme, launched yesterday to link building society members with forgotten money.
Global Banking News-10 September 2008-Halifax and HSBC seeking dormant account holders(C)2008 ENPublishing - http://www.
People who think they have money in a dormant account can check at www.