dormant account
Definition
In general, a low-balance savings account which has shown no activity (deposits and/or withdrawals) over a long period, other than posting of the interest and/or service charges. Statute of limitations usually does not apply to dormant accounts, and their funds can be claimed by their owner or beneficiary at any time.
dormant account is in the Banking, Commerce & Finance subject.
dormant account appears in the definition of the following term: unclaimed balance
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