How can a LandBank account (Passbook or ATM) be considered dormant or inactive account? According to LandBank's Deposit Account Terms and Conditions:
"The Bank will classify the Account as DORMANT when it becomes inactive or has no transactions (deposits or withdrawals) for two (2) years for Savings Account and one (1) year for Current Account."
Are there any charges for DORMANT account?
Yes. LandBank imposes Php 200 per month for dormant accounts.
So, to avoid dormancy charges, you must have at least one transaction (deposit or withdrawal) :
- within a year for Current Account
- within two years for Savings Account (like ATM/Passbook).
Do you have a dormant LandBank account? Tell us what problem(s) you encounter with your dormant account?
Share This Post
If you like this article, we would really appreciate if you share this on Facebook, Twitter, or on any social media channels. Every share makes a huge difference and helps us write more articles like these. Thank You!
--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.
"LandBank Inactive/Dormant Account?" was written by admin under the Banking category. It has been read 5401 times and generated 7 comments. The article was created on 21 July 2016 and updated on 21 July 2016.
|
