Common use of Dormant Account Clause in Contracts

Dormant Account. Maintenance Fee after 12 months of inactivity: 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: (a) where Your Account is open and has monetary value on it, but has been Dormant for 12 months; and (b) where Your Account has been terminated and closed and is therefore Dormant, but still has monetary value on it 12 months after the closure of the Account.

Dormant Account. Maintenance Fee after 12 months of inactivity: 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: (a) where Your Account is open and has monetary value on it, but has been Dormant for 12 months; and (b) where Your Account has been terminated and closed and is therefore Dormant, but still has monetary value on it 12 months after the closure of the 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: (a) where Your Account is open and has monetary value on allocated to it, but has been Dormant for 12 months; and (b) where Your Account has been terminated and closed and is therefore Dormant, but still has monetary value on allocated to it 12 months after the closure of the Account.