Thursday, July 16, 2009

How long would it take for my savings account to go from dormant to active again?

I havent used my savings account in over a decade and now I just put money into it to make it active, how long will I have to wait for it to be active?
How long would it take for my savings account to go from dormant to active again?
You'll need to go to the bank and make sure it's still even open. Most banks close accounts out after 1 year with no activity- or you may have been charged a monthly maintenance fee for each month of inactivity after 6 months.





Check with your bank. I'm a bank teller and I see it all the time- people think they have an active account but it has been dormant so long that it was closed out and they have to have it re-opened. Usually they can re-open it with your old account number. Good Luck!
Reply:I'm curious as to what method you used to put money into it. It seems like if you haven't used it in 10 years or more, the account number would have at the very least been flagged as dormant, if it was even there at all. In that case, the teller should have said something to you.





Generally, the bank will send you a letter if the account becomes dormant, telling you that they need you to either make a transaction on the account or sign and return a form to keep the account active. If you got that letter and made the deposit for that reason, it should be activated either immediately or updated during overnight processing.





Have you called the bank to verify the deposit? I would do that right away and ask them about the dormancy issue.





Good luck.
Reply:just making a deposit may not activate it- you may need to sk w/ someone at the bank to do that- depends on the banks policies
Reply:a long time
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