How long does a bank wait to declare a savings account inactive?
Date: Tue, 07/11/2017 - 22:41
Do I have to make transactions every month or quarter so that my account remains active. Usually an account is declared inactive after how many days?
Dormancy periods vary by
Dormancy periods vary by state and type of account. For an example - In California, there must be no activity in savings a account for at least three years to become dormant or inactive.
Which state are you from? As
Which state are you from? As Tiara said earlier, your inactivity or dormancy period will be depending on your account type and state..
Try to keep the account
Try to keep the account active because it becomes a hassle to get the money back from an inactive account.