How much do dormancy fees cost? Back to list

Member SinceJul 08, 2021

Posts 526

Sterling

Feb 11, 2022 a 10:34
The amount paid for inactivity varies by the banking institution, but is typically between $5 and $20 per month. To ensure that this fee isn't added to a client's account without their consent, it is important to monitor clients' deposits and withdrawals every month. A dormant account fee is assessed after a period of inactivity on an account. A fee is assessed each month that the account remains dormant - until the bank determines that it is appropriate to transfer the account to the state treasury.

Member SinceJul 12, 2021

Posts 343

meni78

Feb 16, 2022 a 07:28
Dormancy fees vary considerably depending on the institution. They can be one off or even charged monthly. It is important to carry out transactions regularly to avoid this fee as it can be seen as being quite hefty (often around $20) considering it is only due to inactivity, whcih can be avoided after all.

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