Dormant Account. We will consider an account to be dormant if there are no deposits or withdrawals for a period of 18 months. Exceptions are loan accounts, Certificates, and IRAs/ HSAs. When an account becomes dormant, we will charge a monthly dormant account fee as stated in the Fee Schedule, unless restricted by law. The fee will be charged until the account becomes active or there are no funds available to pay the fee. You authorize us to transfer funds from other accounts of yours to cover any service fees we may impose upon the account deemed dormant. To the extent allowed by law, we reserve the right to transfer account funds to an account payable and suspend any further account statements. We will attempt to notify you prior to your account becoming dormant. If a deposit or withdrawal has not been posted to your account for 36 consecutive months, and we have not had any other contact with you, we will consider your account abandoned. We will report and disburse the funds from an abandoned account in accordance with Michigan law. Dormant accounts receive only an annual account statement.
Dormant Account. 15.1. An Account will be considered as a Dormant Account, if there is no financial or trading activity in the Account for a set period of 6 (six) months.
Dormant Account. Account Closure: In the event of prolonged inactivity, management fees will be charged. After my Account has been dormant for 10 years, my Account will be closed and funds will be available from the Bank of Canada upon written request and identification. In Quebec, I will be provided with a 60-day prior written notice of the Account becoming dormant.
Dormant Account. An account shall be considered as dormant, in the absence of any trading activity for a period of at least one (1) calendar year. Upon the end of the calendar year the Company will undertake an annual review of all accounts and identify these where no activity has occurred for a period of 1 (one) calendar year. All such accounts will be classified as Dormant. Once an account is treated as Dormant, the Client will be informed accordingly in order to obtain Client’s instruction for further actions. If the Client doesn’t respond for notification and has remained inactive for a following 1 month’s period, the Company reserves the right to close the account unilaterally and return all of the Client’s funds remained after deduction of maintenance fee to the initial source. Dormant Accounts can be re–activated upon confirmation by the client and provision/review of the available documents and ensuring that all due diligence and KYC documentation procedures have been followed. If the Client wishes to make a deposit and start trading again, they will have to provide updated documentation. The Company reserves the right to charge a fixed administration fee of €20 (twenty Euros) every year in order to maintain the account, on the condition that the Client account has the available funds. The maintenance fee shall be deducted from the Client’s account on the last day of the period of which the account becomes Dormant. The Company strives to ensure and keep correspondence with each respective Client and will inform the Client by email that their account is treated as Dormant Account and fee is charged to maintain the account. If the Client account does not have the necessary funds for the maintenance fee and has remained inactive for a following 3 months’ period, the Company reserves the right to charge a lower amount to cover maintenance expenses and close the account unilaterally. If the Client account does not have any funds on the account has remained inactive for a following 1 month the Company reserves the right to close the account unilaterally.
Dormant Account. 9.1 The Bank will treat any Deposit Account which has not had a deposit or withdrawal made for a continuous period of six (6) months since the most recent deposit or withdrawal transaction, as a dormant account. The Bank is not required to notify the Customer of the fact that it has designated a Deposit Account as a dormant account.
Dormant Account. Maintenance Fee after 12 months of inactivity: If we are unable to complete the transfer of funds back to you, We reserve the right to charge You a Dormant Account Maintenance Fee as detailed in the fee table when Your Account is not actively being used for payment transactions (i.e. the Account is "Dormant"). We will apply the Dormant Account Maintenance Fee:
Dormant Account. The Company shall ensure that any Account holding Deposits which are the subject of the security constituted by this Agreement is not and does not become a dormant account within the meaning of the Dormant Bank and Building Society Accounts Xxx 0000.
Dormant Account. The provisions regarding a Dormant Account in Article 3 of the General Agreement shall apply mutatis mutandis to the XXXXXXX MultiMoney Account.
Dormant Account. In the event that there is no trading activity in the Client’s account(s) for a period of three (3) months, APM will regard the account(s) to be dormant (irrespective of whether the Client has notified APM of the inactivity in advance). A Client account shall be deemed dormant from the last day of the third month in which there has been no trading activity in the account. APM may at its sole discretion charge a monthly fee of United States Dollars 100 or its equivalent in Euros or Great Britain Pounds, accruable from the date all trading activities are discontinued in an account. The fee will be deducted from the account(s) on a monthly basis on the last day of every month of dormancy until the balance of the Account has reached zero. If the Client activates the account by trading, APM will cease to deduct the dormant account administration Fee, but APM shall not be obligated to refund any dormant account administration Fees deducted from the Client account prior to such trading activity being undertaken. Dormant accounts with a zero balance will be closed automatically at the discretion of APM.
Dormant Account. At your discretion, you may impose charges, amount of which is reasonable, against my/our account to cover maintenance costs in the event that it is classified as dormant or has been inactive for five (5) years, or as the SEC will prescribe. I understand that “inactive” for this purpose, shall mean that no trading transaction(s) had been made by me during the 5-year or SEC-prescribed period.
