"Dormant accounts" are bank or financial accounts that have not had any activity or transactions for a long period of time. These accounts are inactive and no longer being used by the account holder.
Full definition
* Inactive and
Dormant account fees are assessed if upon closure of your credit card account, we attempt to return your Pledged Deposit Account balance and the funds are returned to us as undeliverable to the last known address on record.
The Cabinet Office has announced that # 3.1 million of funds taken
from dormant accounts is being used to invest in four community projects.
The most obvious reason why there are
still dormant accounts in Swiss banks, opened in the 1930s by European Jews, is that they, and their entire families, were murdered by the Nazis, and there are no heirs left to claim the assets.
It will be interesting, at the end of the process of disbursing this money, to learn just how many
Jewish dormant accounts actually exist, and in how many cases identifiable heirs were actually denied access to their money because of Swiss machinations.
There are instances where
even Dormant accounts have been fraudulently activated in collusion with Bank staff and illegal activities carried out.
Uncovered dormant accounts from clients of previous years and designed an outreach campaign to help old customers settle their accounts.
• Resurrected 27
dormant accounts by applying aggressive suggestive selling skills • Increased sales by 45 % in 3 months following extensive sales and marketing efforts • Developed and implemented daily performance reporting techniques that led to 25 % increase in follow up efficiency
This happened to me during the credit crisis: one
dormant account was closed, and two others had limits reduced.
The banks were accused (in Tom Bower's words) of «a fifty «year Swiss «Nazi conspiracy to steal billions from Europe's Jews and Holocaust survivors» by refusing to hand over
the dormant accounts of Holocaust victims to their heirs.
And Akufo - Addo succeeded in diverting over Ghc 6 million of our party's money into a secret location which was later known as
a dormant account with Ecobank, Trust Towers branch.
Information reaching the Weekly Guide Newspaper indicates that
a dormant account owned by the NPP which was in recent times illegally activated and operated by Freddie Blay and Abankwa Yeboah without the knowledge of the National Chairman, General Secretary and other members of the party's steering committee has been depleted of all its funds.
Information reaching the Weekly Guide Newspaper indicates that
a dormant account owned by the NPP which was in recent times illegally activated...
Known also as
a dormant account, it is exactly what it sounds like.
A reader named Brad recently wrote in to share his experiences with card issuers closing
dormant accounts.
This happened to me during the credit crisis: one
dormant account was closed, and two others had limits reduced.
In my case I have made large cash transactions at two different banks, one that I had a long relationship with, and another that I had a long - standing but
dormant account.
I found this out via Credit Karma indicating my score increased due using
a dormant account.
Dormant Account Fee (deducted from account balance when abandoned funds are sent to the State of MD)
If there is no activity on your account for 24 months and your balance is less than $ 10.01, Live Oak Bank will take the remainder of your balance as
a Dormant Account Fee and close your account.
See related: Use it or lose it: Issuers quick to close
dormant accounts, Banks focus mailings on current customers, not new ones
Also, by keeping
a dormant account alive, you won't unnecessarily decrease the total amount of credit available to you, which can hurt your credit utilization percentage if you close the account.
Dormant accounts were 29 percent.
This post spurred me to resurrect
my dormant account and give Twitter one last try (again!)
To make the curation process easier, for all those new to Twitter, or those sitting with
a dormant account and an egg for a picture (raise your hand)-- we've compiled 25 Twitter accounts which serve up design opportunities on a daily basis.
There is no upside for them whatever happens, but a lot of work for somebody and possible embarrassment if (for example) they have treated this as
a dormant account when it was not.
EXCELLENCE IN BANKING • Achieved success in pulling out a fraudulent activity by endorsing check verification processes • Conducted auditing of
all dormant accounts and soliciting business from them
• Continuously met business development targets for the from 2006 to 2013 • Put into place a customer base development program that revived company's
dormant accounts and converted them into solid business opportunities • Uncovered 8000 prospects through personal lead generation activities between the years 2009 and 2013 • Performed research activities that led to vital competition information and proved invaluable to the marketing team in cultivating the current market
Experienced medical claims and billing specialist experienced maintaining and cleaning up delinquent and
dormant accounts.
KEY ACCOMPLISHMENTS • Achieved targets for the year 2009 by soliciting business from 22
dormant accounts • Managed hiring and training of new customer service representatives for three branches of the bank
• Reopened 23
dormant accounts by contacting clients and offering them additional solutions to their banking problems.
The nature of the role would include high levels of outbound sales calls to
dormant accounts...