INACTIVE & DORMANT ACCOUNTS. 22.1. The Company has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows: When a client with any trading account(s) held with the Company under any of its brands has not:
a. Placed a trade;
b. Opened or closed positions; and/or
c. Made a deposit into the client’s trading account, for a period of at least 90 (ninety) consecutive days, his account shall be classified by the Company as an Inactive Account.
INACTIVE & DORMANT ACCOUNTS. If your account falls below an applicable minimum balance or you have not made any transactions over a period specified in the Rate and Fee Schedule, we may classify your account as inactive or dormant. Unless specifically prohibited by applicable law, we may charge a service fee as set forth on the Rate and Fee Schedule for processing your inactive account. You authorize us to transfer funds from another account of yours to ensure you maintain a minimum of one par value in your regular
INACTIVE & DORMANT ACCOUNTS. We are required by law to preserve an Account that is inactive. An Account is considered inactive if there has not been a debit or credit to the Account for more than one year by you or your agent (other than the Credit Union) and you have not communicated with us. If you have not made a withdrawal from, deposit to, or transfer involving your Account, and we have had no other sufficient communication with you within the period specified by state law, we may classify your Account as a Dormant Account. Funds in Dormant Accounts are reported and remitted in accordance with state law. Once the funds are turned over to the state, the Credit Union has no further liability to you for such funds. To collect such funds, you must apply to the appropriate agency.
INACTIVE & DORMANT ACCOUNTS i. If you do not make any deposits or withdrawals from your account (passive ACH debits and credits are not deemed transactions, examples include, but are not limited to Social Security payments, Veterans payments, established automated payments of third parties through ACH, etc.), or you fail to maintain contact with the Bank (e.g., return of mail to the last known address for the account, etc.) your account will be deemed dormant after eighteen (18) months of inactivity for checking accounts, savings / money market accounts and five (5) years from the 1st renewal for CDs, if no activity (meaning deposit, withdrawal, other accounts, etc.) on the account has taken place. Based on the foregoing, your account will be classified as dormant and will remain classified as dormant until you make a deposit or withdrawal or otherwise notify the Bank of your interest in the account. You may be required to sign a form to return your account to active status. After a specified period of time, if the customer has not responded to the Bank’s dormancy notifications, the accounts will be considered “abandoned” and will be escheated in accordance with the State of Florida Statutes (see “Escheatment” below). Xxxxxxx imposed for dormant accounts cannot be reversed. Refer to the Bank's current applicable Disclosures & Schedule of Fees for related charges. If the balance in your account reaches zero (0) after the assessment of dormant account fees or other service fees, the Bank may close your account.
INACTIVE & DORMANT ACCOUNTS. (1) The Client acknowledges and confirms that any trading account(s), held with the Company, where the Client has not:
i. placed a trade;
ii. opened or closed positions; and/or
iii. made a deposit into the Client’s trading account; for a period of ninety (90) days and more, shall be classified by the Company as an Inactive Account (“Inactive Account”). Where the Customer has and continues to:
i. place a trade;
ii. open or close positions; and/or
iii. make a deposit into the Client's trading account; the account shall be classified by the Company as an Active Account (“Active Account”).
(2) The Company reserves the right, to charge a monthly inactivity fee of twenty-five US Dollars ($25.00) (“Inactivity Fee”) on your Trading Account in return for the maintenance, administration and compliance management of such Inactive Accounts.
(3) Any Inactive Accounts, holding zero balance/ Equity, shall be turned to Dormant (“Dormant Account”). The Company reserves the right to terminate any Dormant Account with zero balance/equity without further notification to the Client. If you wish to re-activate a Dormant account, you must contact our Customer Support Department and inform us about your request of a reactivation. In case you proceed with a request of a reactivation we have the right to request you to submit again all necessary documents and information regarding your identity, knowledge, experience and economic profile in order for us to determinate whether we shall proceed with the reactivation or not.
(4) The monthly inactivity fee shall be charged in basis of the following mechanism:
i. Where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account;
ii. Where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is active, no Inactivity Fee shall apply even where one or more of your other Trading Accounts are Inactive Accounts; and
iii. Where the balance of any Inactive Account to which Inactivity Fee is applicable as per the definition above is less than twenty-five US Dollars ($25.00), then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We retain the right to charge the Inactivity Fee post factum for any month where for technical reasons no inactivity fees were charged.
(5) In cases where your account remains Inactive for a period exceed...
INACTIVE & DORMANT ACCOUNTS. 22.1. Eurotrade SA has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows: When a client with any trading account(s) held with Eurotrade SA under any of its brands has not:
a. Placed a trade;
b. Opened or closed positions; and/or
c. Made a deposit into the client's trading account, for a period of at least 90 (ninety) consecutive days, his account shall be classified by Eurotrade SA as an Inactive Account.
INACTIVE & DORMANT ACCOUNTS. If your account falls below any applicable minimum balance or you have not made any trans- actions within the period of time specified in the Schedule, we may classify your account(s) as inactive. An account is gener- ally only considered dormant when an applicable State law requires such classification (i.e., dormant or abandoned). Although having no obligation to do so, we reserve the right to not classify a particular account as either inactive or dormant if any owner thereof has other active accounts or services with us. You may be charged fees as set forth in the Schedule for inactivity, which is generally the failure to transact any business on an account for a period of 90 days or more. If a deposit or withdrawal has not been made on the account and we have had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in abandoned accounts will be reported and remitted in accordance with applicable state law. Once funds have been turned over to the state, we have no further liability to you for such funds and if you
INACTIVE & DORMANT ACCOUNTS. 46.1 The Client acknowledges and confirms that account(s), held with the Company, without any trading activity for a period of twelve (12) months, are considered to be inactive accounts.
46.2 The Client further acknowledges and confirms that inactive accounts will not have access to trading and will be subjected to relevant charge/cost(s) due to the maintenance/administration of such inactive accounts.
46.3 The charges applied to the inactive accounts are based on the Company’s “Inactive/Dormant accounts policy” The Client further agrees that, in order to resume trading, additional conditions, set by the Company, should be met. The Client acknowledges and agrees that in cases where the balance/equity of inactive account(s) reaches zero, such account(s) shall be considered Dormant and shall be removed from the system(s) accordingly.
INACTIVE & DORMANT ACCOUNTS. You agree to maintain your Account(s) active. Nevertheless, if no deposits have been made or no items have been drawn on an Account for a period of six (6) months, the Account shall be classified as an Inactive Account and shall be subject to Inactive Account fees in addition to any applicable Account fees set forth herein. If no deposits have been made or no items have been drawn on an Account for a period of one (1) year, the Account shall be classified as a Dormant Account and shall be subject to Dormant Account fees in addition to any applicable Account fees set forth herein. Dormant > Deposited or withdrawn funds when you presented your Passbook or Certificate to have us record your interest. > Signed our active Account confirmation form. > Written to us concerning the Account
INACTIVE & DORMANT ACCOUNTS. If your account falls below any applicable minimum balance or you have not had any activity for one year, we may classify your account(s) as inactive. An account is generally only considered dormant when an applicable state law requires such classification (i.e., dormant or abandoned). Although having no obligation to do so, we reserve the right to not classify a particular account as either inactive or dormant if any owner thereof has other active accounts or services with us. You may be charged fees as set forth in the Rate & Fee Schedule for inactivity, which is generally the failure to transact any business on an account for a period of after one year. Unless specifically prohibited by applicable law, we may also charge a service fee set forth on the Rate and Fee Schedule for processing your dormant account (“Inactivity Fee”). You authorize us to transfer funds from another account of yours to cover any such fees. Unless prohibited by applicable law, we further reserve the right to transfer your dormant account funds to a general Credit Union account and to suspend any further account statements. If a deposit or withdrawal has not been made on the account and we have had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in abandoned accounts will be reported and remitted in accordance with applicable state law. Once funds have been turned over to the state, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
