Directive on Dormant Accounts

The Directive on Dormant Accounts is a set of rules that financial institutions follow to manage accounts that haven’t been active—meaning no deposits, withdrawals, or other transactions—for a certain period, usually around 12 months or more. It aims to protect customer funds, ensure transparency, and facilitate the return of unclaimed money to account owners or the appropriate authorities. The directive also requires banks to notify customers before an account is considered dormant and sets procedures for reactivating or closing such accounts, helping to prevent the misuse of inactive funds.