Common use of INACTIVE/DORMANT ACCOUNT Clause in Contracts

INACTIVE/DORMANT ACCOUNT. 13.1. For security reasons, all Savings and Current accounts in which there are no transactions for a period of 12 consecutive months or any period that may be determined from time to time, are converted to “Inactive” status. 13.2. All Savings and Current accounts in which there are no transactions for a period of 24 consecutive months or any period that may be determined from time to time, are converted to “Dormant” status. A fee, as per Bank’s Tariffs and Commissions, will be charged on a six monthly basis on such account until reactivation. 13.3. In case the Account remains inactive or dormant, the Customer will not be able to perform any transactions on same, such as withdrawals, deposits etc. 13.4. To reactivate a Dormant Account, the Customer shall submit updated KYC documents. The Bank will require 24 hours to process the reactivation before restarting any transaction on the account.

INACTIVE/DORMANT ACCOUNT. 13.112.1. For security reasons, all Savings Call Deposit and Current accounts in which there are no transactions for a period of 12 consecutive months or any period that may be determined from time to time, are converted to “Inactive” status. 13.212.2. All Savings Call Deposit and Current accounts in which there are no transactions for a period of 24 consecutive months or any period that may be determined from time to time, are converted to “Dormant” status. A fee, as per Bank’s Tariffs and Commissions, will be charged on a six monthly basis on such account until reactivation. 13.312.3. In case the Account remains inactive or dormant, the Customer will not be able to perform any transactions on same, such as withdrawals, deposits etc. 13.412.4. To reactivate a Dormant Account, the Customer shall submit updated KYC documents. The Bank will require 24 hours to process documents following a review done by the reactivation before restarting any transaction on the accountbusiness unit.

INACTIVE/DORMANT ACCOUNT. 13.112.1. For security reasons, all Savings Call Deposit and Current accounts Accounts in which there are no transactions for a period of 12 consecutive months or any period that may be determined from time to time, are converted to “Inactive” status. 13.212.2. All Savings Call Deposit and Current accounts Accounts in which there are no transactions for a period of 24 consecutive months or any period that may be determined from time to time, are converted to “Dormant” status. A fee, as per Bank’s Tariffs and Commissions, will be charged on a six monthly basis on such account until reactivation. 13.312.3. In case the Account remains inactive or dormant, the Customer will not be able to perform any transactions on same, such as withdrawals, deposits etc. 13.412.4. To reactivate a Dormant Account, the Customer shall submit updated KYC documents. The Bank will require 24 hours to process documents following a review done by the reactivation before restarting any transaction on the accountbusiness unit.

INACTIVE/DORMANT ACCOUNT. 13.1. For security reasons, all Savings and Current accounts in which there are no transactions for a period of 12 consecutive months or any period that may be determined from time to time, are converted to ““ Inactive” status. 13.2. All Savings and Current accounts in which there are no transactions for a period of 24 consecutive months or any period that may be determined from time to time, are converted to “Dormant” status. A fee, as per Bank’s Tariffs and Commissions, will be charged on a six six-monthly basis on such account until reactivation. 13.3. In case the Account remains inactive or dormant, the Customer will not be able to perform any transactions on same, such as withdrawals, deposits etc. 13.4. To reactivate a Dormant Account, the Customer shall submit updated KYC documents. The Bank will require 24 hours to process the reactivation before restarting any transaction on the account.