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Dormant or Inactive Chinabank Checking Account

Like any other banks in the Philippines, ChinaBank also considers checking account dormant or inactive if it has no deposit or withdrawal within a certain period of time.
As stated on ChinaBank's Terms and Conditions on Deposit Products and Alternative Channels:

"A Checking Account which remains inactive (no deposit or withdrawal) for a period of one (1) year will be considered dormant. Moreover, accounts inactive for ten (10) years shall be escheated in favor of the Treasurer of the Philippines."

ChinaBank will charge fees for dormant checking accounts. So to avoid dormancy fee, you should keep your account active by depositing or withdrawing money on it within a year.
 

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"Dormant or Inactive Chinabank Checking Account" was written by under the Banking category. It has been read 2293 times and generated 0 comments. The article was created on and updated on 06 June 2013 .
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