Dormant account meaning: A dormant account is a financial

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 Usually, this refers to checking and saving bank accounts that have not had money withdrawn from them for at least months. 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... Understanding the dormant account meaning is essential, as it helps account holders avoid the inconvenience and financial drawbacks that may follow. A dormant bank account is one that has remained inactive over a long period , typically due to no customer-initiated transactions. Understand how bank accounts become inactive or dormant , what it means for your funds, and the easy steps you can take to reactivate and maintain active accounts .