27 March 2012

All you need to know about DORMANT account

In general, banks define dormant account (sometimes referred as inactive) when an account does not have any transaction (deposit or withdrawal) for a continuous period of at least 12 months. When your account becomes dormant, the bank would send you a notice letter to the registered mailing address to remind you to activate your account. You may be required to withdrawal or deposit some money over the counter to re-activate your account.

What are the charges?

In addition, should your account balances be RM10 or less, the bank would also inform you of its intention to close the account. The bank will send you a 2nd reminder when it does not receive any response from you (i.e. for activation of account or objection to the closure) within 3 months after the 1st notice. If there is still no response after 2 notices, the bank may proceed to close the account and absorb the balances as service fee.

For account with balances of more than RM10, the account will usually be charged with a dormant account service fee typically at RM10 per annum, until the balances are exhausted or up to 7 years whichever is earlier. Please refer to the tables below on fees and charges imposed by major banks in Malaysia on Saving account.

Unclaimed moneys
When your account remains dormant for a period of 7 years, the account will be classified as unclaimed moneys. Under the Unclaimed Moneys Act (1965), the balances will be transferred to the Government. You may recover your unclaimed moneys from the Registrar of Unclaimed Moneys by submitting form UMA-7 and the required supporting documents at any Registrar offices nationwide. There is no time limit for you to claim your money back.

Contact details of the Registrar are as follows:

Pendaftar Wang Tidak Dituntut
Jabatan Akauntan Negara Malaysia

Bahagian Pengurusan Amanah dan Sekuriti
Menara Maybank, 100 Jalan Tun Perak,

50050 Kuala Lumpur
Tel : 03-2034 1850
Website : www.anm.gov.my

Source: Banking Info


  1. I'm glad to know about DORMANT account it's imperative to me being a medical supplier in Malaysia.

  2. I'm not understand about fees in the table shown in above . Anyone , please explain to me as well .

    1. Aishah, may I know which part you do not understand?

  3. Thank you so much,this piece is very helpful. I see only savings account and current account are mentioned here, does this apply to fixed account? Does this apply to ASM/ASB/1Malaysia?

    1. Yes. This also applies to Fixed Deposit, but not to ASM/ASB/1Malaysia scheme. Thanks.

  4. hi, is the online transaction considered a valid 'transaction' to avoid the account become dormant?

    1. Yes. Online transaction is considered as a VALID transaction. Thanks.

  5. Thanks for sharing... Such a nice information about the dormant account policy!

    dormant account policy

  6. so how do you reactivate the dormant account?

  7. I work with CIMB. Can I reactivate the account from any branch or from mine specifically?

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