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If you fail to use your savings account for few years and if its balance is small, such accounts will be closed after few years and balance will be transferred to a collection account. Funds collected to this account will be used as an asset of the state.
The minimum amount you can keep in a savings account and time periods to avoid this situation are differ from country to country. Please refer to your nearest bank to inquire those information.
This is a common banking practice imposed by relevant Central Bank to increase money circulation.
What else can I help you with?
What happens if the bank closes your acct can you still go to jail for that?
Yes, if you write bad checks you can go to jail. Just to have a closed account no since no law has been broken unless they closed it because you committed fraud or something else.
What is the short forms of accountant?
acct
How does accounting help the capital allocation process?
information provided by acct. enable investors and creditors to compare income and assets and decided whether or not to invest or lend money
Short Abbrieviation for the word Accounting?
Acct
How do you abbreviate the word Accountability?
The abbreviaton for accounting is acct.
How to find info on old account with dime savings bank of New York?
My name is Hannah Cheeks and I have remaning money left in my acct and I want to send me the remaining balance in my acct. Thank you
How much Money you Need to Open an account and bpi?
3000 pesos for atm savings acct 10,000 pesos atm+passbook.
Does all your money go on a acct levy?
No.
Can you deposit money back into your LIRA Acct?
no
Is money in your reverse mortgage acct safe from creditors?
No.
What are the disvantages of saving money?
The money is not readily available if an emergency arises Also the bank can freeze your acct at any time if they deem appropriate.
How do you make balance inquiry on my ATM from BPI family savings bank?
I use my acct.#,and my pin code.3714018875 1108
Can you stop Harley from taken money out of your checking acct?
It depends on why they are taking it.
Can we withdraw money if you have acct from US in the Bank of America in Manila Philippines?
yes
How do you get ACCT?
who handkes 770 acct
Can child support take money from your back acct to pay back child support?
yes
Kevin invested money in a savings acct at a rate of 5 percent simple interest After one year he has 4326.00 in the acct How much did Kevin originally invest?
4326 = p + ptr/100 where p is original investment, t is time (1) and r is rate per cent (5)4326 = p + 5p/100432600 = 105pp = 432600/105 = 4120is that divided by 100, shouldn't you add a 12 there for the amount of months he invested
