dormant account Synonyms

No Synonyms and anytonyms found

dormant account Meaning

Wordnet

a savings account showing no activity (other than posting interest) for some specified period

It is essential to carefully review dormant accounts to ensure that there are no discrepancies or unauthorized transactions.
Some financial institutions may charge a fee for maintaining dormant accounts, so it's crucial to stay informed about such policies.
The company decided to close all dormant accounts that had been inactive for over a specified period.
An individual may have multiple dormant accounts across different financial institutions, leading to complexities in managing finances.
Dormant accounts often require additional verification steps or reactivation procedures to regain access to funds.
Dormant accounts can be susceptible to fraudulent activities or unauthorized transactions if not actively monitored.
It is advisable to periodically review dormant accounts and consider closing or merging them with active accounts.
Financial institutions are responsible for identifying dormant accounts and implementing appropriate policies to manage them.
Dormant accounts can accumulate additional fees and charges, which can gradually deplete the account balance.
Dormant accounts can serve as a way to store funds for future use or as a backup financial resource.

a savings account showing no activity (other than posting interest) for some specified period

No synonyms found.

No antonyms found.

It is essential to carefully review dormant accounts to ensure that there are no discrepancies or unauthorized transactions.

Some financial institutions may charge a fee for maintaining dormant accounts, so it's crucial to stay informed about such policies.

The company decided to close all dormant accounts that had been inactive for over a specified period.

An individual may have multiple dormant accounts across different financial institutions, leading to complexities in managing finances.