Quick Answer: Can Money Be Paid Into A Dormant Account?

Money cannot be deposited in one account which has been considered as dormant account.

You have to convert the account as an active account and you have to send a letter in this connection to the branch where you are having the account.

Can you keep money accidentally paid into your account?

No matter how tempting it is, don’t immediately go out and spend the money. You will be liable to pay it back, even once the funds are gone, if: A bank or individual accidentally paying money into your account.

What happens when a bank account is dormant?

If a current account or savings account is left inactive for a specified period of time it will be declared dormant by the bank, meaning it’s inactive or no longer in use. But if there’s any money left in it, you may still be able to track down the account and reclaim any funds.

Can I withdraw money from dormant account?

You will not be able to use your ATM card, issue cheques or transact in the account without reactivating it. The bank makes your account inactive to safeguard your money from any risk of fraudulent transactions. Banks are cautious about sudden requests for withdrawal from a dormant account.