Bank Account Reactivation of Dormant Account.

  If you have a bank account that you haven’t used in a long time, you may find that it has become inoperative. This means you can no longer withdraw money or make transactions until you reactivate it. Don’t worry! The reactivation of inoperative bank accounts is a simple process if you follow the right steps. In this guide, we will walk you through how to reactivate your dormant account, trace unclaimed investments, and recover unclaimed dividends from the Investor Education and Protection Fund (IEPF). What is an Inoperative Bank Account? A bank account is considered inoperative or dormant if there have been no transactions for more than 12 months. If there are no transactions for over 24 months, the account is classified as dormant. Banks do this to prevent fraudulent activities and to ensure customer security. Why Do Bank Accounts Become Inoperative? Several reasons can cause a bank account to become inoperative, including: Not using the account for a long time...