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A dormant account is some sort of account or credit line that is open, but inactive. For instance, I have an equity line of credit with a zero balance. It is dormant.
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Does interest apply to dormant savings accts?
No. Banks will offer interest only on active bank accounts. Dormant accounts are inactive and do not earn any interest. Customers need to keep their accounts active if they wish to earn an interest through their accounts
What is the difference between inactive accounts and dormant account?
There is no different. An inactive account is a dormant account, meaning there has been no activity for a certain amount of time.
Can I deposit 1 cent to keep my savings account from becoming dormant?
Yes, inactive accounts (the status before becoming dormant) require a deposit or withdrawal to reactivate the account. The amount doesn't matter.
What is a dormant savings account?
A savings account that has had no deposits or withdrawals (account owner initiated transactions) for an extended period - usually a year. After an extended period of time dormant accounts are seized by the states they are in under "unclaimed property" laws. They "hold" them for you.
What happens to checking and saving accounts upon death?
The accounts are suspended and if the next of kin or legal heir of the account holder comes to claim, the bank will release the account money to them. If no one turns up, the account will be made dormant and mostly after a year or so and the money will go into the banks suspense account
What does accounts mean?
A dormant account is some sort of account or credit line that is open, but inactive. For instance, I have an equity line of credit with a zero balance. It is dormant.
Does interest apply to dormant savings accts?
No. Banks will offer interest only on active bank accounts. Dormant accounts are inactive and do not earn any interest. Customers need to keep their accounts active if they wish to earn an interest through their accounts
What is the difference between inactive accounts and dormant account?
There is no different. An inactive account is a dormant account, meaning there has been no activity for a certain amount of time.
In 1995 the Swiss Banking Association announced that it had uncovered .?
$30 million in dormant accounts
What does accounts means?
A dormant account is some sort of account or credit line that is open, but inactive. For instance, I have an equity line of credit with a zero balance. It is dormant.
Is the east maui volcano dormant?
You mean Haleakala? Yes, it has been dormant for many years.
Can you still send email to a dormant account?
Depends. After a while, a lot of mail servers will delete dormant accounts, at which point, they can no longer receive emails. You'll get a delivery failure notification email when this happens.
Can I deposit 1 cent to keep my savings account from becoming dormant?
Yes, inactive accounts (the status before becoming dormant) require a deposit or withdrawal to reactivate the account. The amount doesn't matter.
Does the word inactive mean the same as dormant?
basically.
What does dormant mean when used to refer to a volcano?
Sleeping
What is call when a volcano is not active?
"WhatIS IT CALLED when a Volcano is not active" do you mean? It is known as Extinct or Dormant
What happens to dormant Twitter accounts--does a Twitter address become available if the current owner hasn't used in it say a year?
No it doesn't.
