Let's say you have a Metrobank account: a Metrobank ATM card, Passbook or other types of account. And that you haven't use or transact on that account for a year. No deposit. No withdrawals. No transactions ever done in 1 year. In short, the account is dormant or inactive for 1 year. Will that account be closed?
AnswerNo. A Metrobank account which is inactive for 1 year will not be closed. According to one of the Rules and Regulations governing Metrobank Savings Account, a Metrobank account is regarded as dormant if it's inactive (no transactions are performed) for 2 years. So if your account has no transactions in less than 2 years, it is still active. Meaning you can still use the account. The money is still intact. On the other hand, if your account is inactive for 2 years, Metrobank will charge a corresponding dormancy fee, regardless of account balance. The dormancy fee will be automatically debited from the dormant savings account. Therefore, to avoid dormancy fee, you should at least perform a transaction (deposit, withdraw, fund transfer, pay bills, etc.) to your Metrobank account? Are you worried with your inactive Metrobank account?
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"Metrobank Account Inactive (dormant) for 1 year: Will it be closed?" was written by admin under the Banking category. It has been read 21271 times and generated 12 comments. The article was created on 30 December 2013 and updated on 30 December 2013.
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