DORMANT ACCOUNT
(noun)Definitions
There is 1 meaning of the phrase
Dormant Account.
Dormant Account - as a noun
A savings account showing no activity (other than posting interest) for some specified period
Example: "The dormant account reverted to the state under escheat laws"
Example Sentences
"I forgot about my dormant account and now I can't access it."
"The bank charges a fee for maintaining a dormant account."
"After a year of inactivity, the account is considered a dormant account."
"I received a notice stating that my account would be classified as a dormant account if I didn't make a transaction soon."
"To reactivate a dormant account, you need to visit the bank in person."