Dormant Fee. Any account that it has available balance and it has been open throughout a period of 5 years (60 months) or more and during that period no transactions have been carried out, then the account would be considered by the Company as a ‘Dormant Account’. As soon as the account is identified as Dormant, the Company has the right to notify the Client that the account will be deleted and the funds will be returned back to the origin bank account. In such event the Client has five (5) business days to contact the Company and request non-deletion of the account. If request for non-deletion is submitted the Client shall be required to submit updated verification documents for KYC and due diligence purposes within a time frame specified by the Company, in order to maintain the account active.
Appears in 6 contracts
Samples: Client’s Agreement, Client’s Agreement, Client’s Agreement
