How to reactivate dormant Bank Account ?

How the account becomes dormant ?

• If no transaction in the savings/current account for over one year, it becomes Inactive.

• If such account continues to remain inactive for another 12 months, it is considered as Dormant Account.

• Done for safety & security of account and also to avoid the risk of fraud, record keeping and periodic review of accounts.

How to Reactivate Dormant Account ?

• Customers are required to submit an application to activate the dormant account while visiting the branch.

• Application should contain reason of not transacting.

• In case of joint account, all the account holders will have to sign application.

• Submission of KYC documents.

Few transactions to avoid the account being Dormant

• Withdrawal of cash from ATM/bank branch

• Deposit of cash in the account

• Payment by cheque.

• Transfer of funds online through net banking, phone Banking etc.

• Deposit of cheque in the account.

• FD interest credited to the account.

• Online Bill Payment.

• SIP transactions.

Some Consequences of Dormant Account

• Non Issuance of Cheque Book and Cheques.

• No transaction through internet banking or phone banking.

• No renewal of ATM/ debit card.

• No Modification in Address, Signature etc.

• Non Functionality of ATM Services.

Few Other Points

• There are no charges for reactivating your dormant bank account.

• Banks will inform three months before the account is classified as dormant.

• Different Banks will have different dormant account reactivation procedures.