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#2240179 - 07/27/20 05:00 PM Inactive Status
Newbie06 Offline
Platinum Poster
Joined: Mar 2006
Posts: 663
Is there anything in the Indiana Code regarding inactive status on accounts that is separate from a dormant account status? Our core system generates notices to customers whose accounts who will be reaching dormant status and requests that they make a deposit or withdrawal in order to avoid the account going dormant.

The issue that we are running into is a customer who receives the inactive status notification is unable to view this account on their internet banker because of the inactive status the account is carrying. This means that the customer is unable to make a transaction to or from the account to avoid the account going dormant...they essentially would need to come into the bank (which is what we require on our dormant accounts).

Is there anything in Indiana law that states we have to code the account as inactive prior to it actually going dormant? We are not providing good customer service if we are asking a customer to make a deposit or withdrawal from the inactive account but then not allowing them to do so via internet banker.

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#2240182 - 07/27/20 05:33 PM Re: Inactive Status Newbie06
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,017
Bloomington, IN
I'm not aware of anything addressing inactivity in the statutes, only dormancy in IC Title 28-1-20-1.1.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2240191 - 07/27/20 05:59 PM Re: Inactive Status Newbie06
Newbie06 Offline
Platinum Poster
Joined: Mar 2006
Posts: 663
Dan, I didn't think there was anything until I found out that customer's accounts were being turned off from internet banking which made me question the situation. Thanks for your response.

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