There are so many terms and conditions with which each bank account comes. The terms and conditions not only cover the policies about the account balance, debit cards, etc. But those policies also cover things like the activities of the account.
One such very important policy of the bank is about the dormant account. This is also termed the inoperative account policy in the banking sector. There is a certain period of time for which in case you don’t use your account. Then the bank will consider your account as a dormant bank account.
You can not make use of such an account for making any monetary transactions. If you want to understand in-depth the dormant accounts then I recommend you to refer to the articles published by Bank With Us.
What is the Meaning of Not Using a Bank Account?
I just not mentioned that if you don’t use your bank account for a said period of time then it will be a dormant account. But what is the exact meaning of not using a bank account?
What it means is you have not received any deposit or money in your bank account. At the same time, you have not transferred money out of your bank account. And also have not done any transaction using your internet banking, mobile banking, and ATM Card.
Can I Reactivate a Dormant Bank Account?
Yes, you can reactivate a dormant account and use it normally as you use the other bank accounts of yours. The bank will just want to know the reason why you failed to use the account for such a long period of time. Sometimes it turns out to be important that unused bank account are considered inoperative by the bank.
Because if you are not using your account and somehow if someone gains access to your account. Then your bank account might also be misused for illegal activates. This is the reason why the banks keep track of the activities of all the accounts. And if found unused then it is turned into dormant.
What are the Documents Required?
When you visit the bank after a long period of time and ask the branch manager to reactivate your account. He or she will not do it instantly. There are certain procedures that have to be followed and you also need to take along with your some documents to the bank.
You have to carry your identity proof document and address proof document in original. Along with those you will need two passport size recent photographs. Basically, these are the KYC documents that the bank needs. You can refer to the official webpage of RBI for more information about the documents.
What is the Process to Reactivate?
First of all, you have to take all the documents that I have mentioned above. Then visit your home branch. Here home branch is the branch where you had opened your bank account. In the case of most of the banks, you can not do this from any of the branches. You will have to visit your home branch itself.
Now you have to write an application letter to the bank requesting to reactivate your dormant bank account. There are some details which you will have to mention in your letter and they are,
- Your Name and address.
- The subject of the letter should be the reactivation of the dormant account.
- Bank account number.
- The reason why you were unable to continue using the account.
Once you have mentioned this thing in your application letter. You have to sign it at the end and submit it to the employee of the bank who handles the accounts section.
Just take your application with you go to the helpdesk of the bank. The employee handling the helpdesk will guide you through the further process.
You will then have to show the original copy of your documents. The employee will check and verify the same. If everything is fine then the application will be taken from your end.
Within the next 2 working days, your account will be activated. The maximum time required is 2 working days, but usually, the account gets activated.