Thread Options
#204910 - 06/28/04 01:25 PM INACTIVE ACCOUNTS
Anonymous
Unregistered

Is there a difference between inactive accounts and dormant accounts?,are they the same or there is a difference related to their period of inactivity?

Return to Top
Audit
#204911 - 06/28/04 01:54 PM Re: INACTIVE ACCOUNTS
Tink Offline
Member
Joined: Apr 2004
Posts: 59
Dormant status is a matter of policy and in some instituations an account can be "inactive" for years before being classified as dormant. Once an account is classified as "dormant" there is generally more detailed attention paid to a transaction that would impact the account.

Return to Top
#204912 - 06/28/04 03:03 PM Re: INACTIVE ACCOUNTS
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,246
On the Net
Your state may also have defined these terms. Cross check state used definitions against your deposit agreement. Texas, as an example doesn't use the word "dormant" in our code.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top

Moderator:  Andy_Z