HELP AND SUPPORT

A dormant account is where no transactions have been made for more than 24 months. Transactions include withdrawals from and payments into an account, but interest credited to an account, or any audit fees applied, aren’t counted as transactions.

Our priority is to safeguard our customers’ money from the risk of financial crime. We periodically review customers’ accounts and, as a fraud prevention measure, close the account if it hasn’t been used for two years. Dormant accounts are at risk of attempted fraud because holders of dormant accounts are less likely to notice a fraudulent transaction.

If one of your accounts becomes dormant, we’ll let you know by letter. We’ll give you two months’ notice of our intention to close your account, to give you time to make alternative banking arrangements.

It’s quick and easy to prevent your account becoming dormant. You can make a withdrawal or credit by cash or cheque, use your card at an ATM machine or buy something. If you’re not able to make any transactions, it may be because your account has been inactive for more than two years, which has triggered the closure process.

How can I stop the account closure process and restore my account facilities?

Unfortunately, once you have received the letter informing you of the closure of your account, the decision can not be reversed and account facilities can not be restored.

Every financial institution has discretion to close a bank account if appropriate, and where reasonable notice has been given.

If your organisation doesn’t have an account elsewhere, we’d recommend you make alternative banking arrangements as soon as possible. We may consider requests to extend the notice to close period for an agreed length of time to give you time to arrange new banking facilities.