Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I received a communication from ICICI BANK UK PLC stating that my Account has become dormant. What does it mean?

April 26, 2017Bank communication dormant ICICI mean my account Plc received stating UK

0

Posted

I received a communication from ICICI BANK UK PLC stating that my Account has become dormant. What does it mean?

1 Answer

0

Posted

If you make no transactions on your account for a period of more than 18 months, then for the safety of your account and money, we would classify your account as ‘Dormant’. After classifying your account as ‘Dormant’ you will not be able to operate your account till you provide us with your latest proof of identity and address. Note: Your money in a Dormant Account will always be your property no matter how many years have passed. If you die it will become part of your estate. If the account remains dormant with no customer initiated activity for 15 years, it may be governed by the provisions of the Dormant Bank and Building Society Accounts Act.