A checking or money market account is
considered Dormant/Inactive if
the account has had no deposit or withdrawal activity (other than posting
interest) for a period of one year.
A Certificate of Deposit account is
considered Dormant/Inactive if there is no account activity for a period of one
year after the first date of renewal.
In other words, An account is declared
dormant after a bank or building society has failed in attempts to contact the
holder; if letters or statements are returned marked "not known at this
address", and if it is unused for an extended period (accounts still being
used regularly will generally remain open even if mail is returned).
It varies from bank to bank. Generally,
current accounts are often marked "dormant" after a year, but savings
accounts can go untouched for between three and five years.
