Bank treatment of inactive checking and savings accounts
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Bank treatment of inactive checking and savings accounts hearings before a subcommittee of the Committee on Government Operations, House of Representatives, Ninety-sixth Congress, second session, July 23 and 24, 1980. by United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee.

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Published by U.S. G.P.O. in Washington .
Written in English

Subjects:

Places:

  • United States.

Subjects:

  • Bank accounts -- United States.,
  • Banks and banking -- Service charges -- United States.,
  • Unclaimed estates -- United States.

Book details:

Edition Notes

Other titlesInactive checking and savings accounts.
Classifications
LC ClassificationsKF27 .G634 1980g
The Physical Object
Paginationvi, 1101 p. :
Number of Pages1101
ID Numbers
Open LibraryOL3919768M
LC Control Number81600990

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Information on an Inactive Savings Account. What is an Inactive Account?. An account is considered inactive if it does not have a “customer-initiated transaction” such as a deposit, withdrawal, ATM transaction, or an online banking transaction for a period of 10 months.   Dormant Account: A dormant account has had no activity for a long period of time, other than posting interest. A statute of limitations usually does not apply to dormant accounts, meaning that Author: Julia Kagan. Community Bank in New York and Pennsylvania imposes a $15 per month inactivity fee after 12 months for checking accounts and after 36 months for savings accounts. Commerce Bank, which has locations across the Midwest, imposes a $3 per month fee starting after just 60 days of inactivity for “myDirect Checking” accounts. Back in the government made a small change to the rules relating to unclaimed money. Find out more today at Canstar.

  Dollar Savings Direct and Goldman Sachs offer some of the highest interest rates on savings accounts in the country, currently % and %, respectively, though you’ll Author: James Dennin. Trusts and Bank Accounts. Banks, along with credit unions and savings and loan associations, offer several types of accounts. You might have a checking account, savings account and a certificate of deposit. You can put any or all of these into a living trust. However, this isn’t necessary to avoid probate. Banks monitor the deposit and withdrawal activity for accounts to ensure that they remain active. If activity stops in a bank account, the financial institution will eventually classify it as. INACTIVE AND DORMANT ACCOUNT. If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account.