Image Source : FREEPIK Check how you can reactivate your bank account.
Your bank might become inoperative if it remains unused for a specified period, making it crucial to keep your account active with regular transactions. If a bank account remains inactive for an extended time, it may be classified as a dormant account, restricting the person from making payments, withdrawals or transfers.
According to RBI guidelines, a savings or current account is considered inactive or dormant if there have been no transactions for over two years. This step is usually taken to prevent fraud and protect account holders.
However, there is no need to worry, If your bank account has been declared inoperative, you can reactivate it easily. Here is a step-by-step guide to unfreeze your bank account:
Contact Your Bank: Reach out to your bank to ask about their process for reactivating inactive accounts.
Provide Identification: Submit the required identification documents as per the bank’s guidelines.
Complete Necessary Forms: Fill out any forms that the bank may ask you to complete for reactivation.
Make a Transaction: Carry out a transaction, such as a deposit or withdrawal, to activate your account.
Meet Minimum Deposit Requirements: Ensure you meet any minimum deposit conditions set by the bank.
Confirm Reactivation: After completing the steps, confirm with your bank that your account is now reactivated.
Stay Informed: Keep track of any future activity requirements to avoid your account becoming inactive again.
What happens when a bank account becomes inoperative?
Different banks have varying rules for inoperative accounts. Some may close an account with no balance after a certain period. If your account is inoperative, the following transactions/services will not be allowed: changing your residence, renewing your ATM or debit card, adding or removing a joint account holder, changing your signature, and conducting transactions via internet banking or at a branch.
