I was curious to see what other banks do regarding dormant account statements. Currently when an account goes dormant, the statement continues to be sent to the address on file. Operations wants to stop delivering the statements and mail a notice that effective XX statements will no longer be mailed until you contact us. My question is--can we do this? How do others handle dormant account statements?

We continue to mail dormant account statements to the address of record provided that they are being delivered. If the statement is returned, we change the status to "do not mail" and try to initiate contact with the customer via telephone or e-mail to obtain a current address.

If we are unable to get a current address, we maintain the accounts for the required time before submitting them to the state as abandoned property.