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Explain the difference between inactive account and dormant
account?
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Answer Posted / jacqui
In banking, an in-active account is one that has not shown
any activity over a certain period of time, other than the
posting of interest or service charges. This peroid
depending upon the type of account may be 3 or 6 months. A
dormant account is one that has been inactive for a longer
period usually 6 or 12 months.
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