Common use of Dormant Accounts Clause in Contracts

Dormant Accounts. 19.1. If we lose contact with you despite repeated attempts through all possible channels (i.e. phone, email or post) for three years (in case of Fixed Term deposits- three years after maturity), we may treat your account as being inactive to help mitigate the risk of fraudulent activity. This means that we will stop contacting you or sending you statements by email. 19.2. To make your account active again, you can contact us using the details on our ‘get in touch’ page. For identification purposes, you are required to provide Proof of ID and Proof of Address. Details of which documents we accept can be found here and how to get them certified can be found here. 19.3. If a total period of fifteen years has passed with no contact from you, your account will be considered as dormant. 19.4. Once your account has become dormant, we reserve the right to transfer the funds to an authorised reclaim fund. A reclaim fund is a separate organisation authorised to accept unclaimed money in ‘dormant’ bank accounts which is distributed for the benefit of the community, while protecting the rights of customers to reclaim their money. You will be entitled to claim your money back from the reclaim fund. You can contact us using the details on our ‘Get in touch’ page to reclaim your funds. XxxXxxxx will handle the claim for repayment as an agent of the reclaim fund.

Dormant Accounts. 19.1. If we lose contact with you despite repeated attempts through all possible channels (i.e. phone, email or post) for three years (in case of Fixed Term deposits- three years after maturity), we may treat your account as being inactive to help mitigate the risk r isk of fraudulent activity. This means that we will stop contacting you or sending you statements by email. 19.2. To make your account active again, you can contact us using the details on our ‘get in touch’ page. For identification purposes, you are required to provide Proof of ID and Proof of Address. Details of which documents we accept can be found here and how to get them certified can be found here. 19.3. If a total period of fifteen years has passed with no contact from you, your account will be considered as dormant. 19.4. Once your account has become dormant, we reserve the right to transfer the funds to an authorised reclaim fund. A reclaim fund is a separate organisation authorised to accept unclaimed money in ‘dormant’ bank accounts which is distributed for the benefit of the community, while protecting the rights of customers to reclaim their money. You will be entitled to claim your money back from the reclaim fund. You can contact us using the details on our ‘Get in touch’ page to reclaim your funds. XxxXxxxx will handle the claim for repayment as an agent of the reclaim fund.