As there is no restriction to the savings account you can own, many of us have developed the habit of opening accounts with several banks to the extent that we forget that some of these accounts exist. Imagine an individual (not a business owner) having four or five accounts. How do you operate all? When you have such an amount of accounts, there is a possibility that two or more will be unused, resulting in the account being rendered inactive. Your bank may not tell you when it renders your account inactive; so, how do you know?
You can check if the bank account is active or not via online banking, by calling the bank representative or visiting your bank.
If you haven’t done any transaction in your account for a year, which is 12 months, it will be rendered inactive by your bank. While if you fail to perform any transaction with the account for 24 months, it will be regarded as dormant. Mind you; your bank may not inform you of the development. So it is left for you to determine if your bank account is active or inactive. Now, that is the problem most people face. If you fall into that category, this article is for you. I’ll reveal to you how to determine if your bank account is active or not.
How To Cancel Visa Debit Payment?
How To Check if Bank Account Is Active or Not?
How many bank accounts do you have? 2? 3? 4? 6? How about that account you opened a few years back and haven’t bothered to check again? You may be surprised to discover that you can’t perform transactions with the account anymore. This is because your account has been deemed inactive.
An unfunctional account is one that hasn’t been used to transact for a year. Of course, when you have numerous accounts, it becomes hard to transact with all. So, some of the accounts will surely lay fallow for a while, and when it is rendered inactive, you may not be notified or aware.
The best way to ensure that your bank account isn’t rendered inactive or dormant is by performing minor transactions. Also, kill the urge to own more than two bank accounts. You should only own banks account that you can manage, as doing so will reduce the risk of getting rendered inactive or dormant.
So, how do you know if your bank account is active or not? You surely wouldn’t want to be in a situation where you badly need cash but cannot perform transaction because your account has been rendered inactive. Such can be painful and frustrating.
There are three ways to determine if your account is active or not.
- Via online banking:
The first effective way to determine if your account is still functioning is by logging into your online banking. If you formerly enrolled in online banking with your bank, you can check your account’s status.
To do this, you’ll need your username and password. If, for some reasons, you cannot recall your login details, you can easily reset your username or password if your email address is in the bank’s database. Most banks will ask that you verify a site key or answer some security questions to confirm your identity. As soon as you have entered your account summary page, all active accounts will be listed. This may vary for banks as they operate different online banking.
- Phone call:
This may be the easiest option. If you have the gut feeling that your account may have been rendered inactive, you can call your bank to confirm; don’t just assume. Contact the customer care service number. If you don’t have their number, check the website of your bank.
Also, if you know your account number and any phone verification passwords, you can leverage the automated system to determine the status of the account. Or, you can decide to ignore the automated system by choosing the right code that will link you with a bank representative. You may be asked for your SSN and address provided when opening the account. After answering those questions, the representative should be able to find the account and check if it’s active or not.
- Visiting the Bank:
If you don’t want to call the bank or leverage online banking to check your account’s status, you can easily visit a branch of the bank. At the bank, request to speak with a representative. The rep may request some details like your account number, address, SSN to determine if the account is active or not.
Mind you, most banks may require you to come along with a means of identification like your driver’s license or state ID to confirm your identity. If you cannot recall your account number, don’t fret. A bank representative can still confirm your bank account status using your full name, social security number and ID.
Remember, if your account is designated as inactive, you may not be able to carry out certain transactions. So, to prevent this from happening, don’t hesitate to use one of the options mentioned above to determine if your account is still active or not so you know the next step to take.
How To Cancel Debit Card When Bank Is Closed?
How To Check if Bank Account Is Active or Not Online?
Your bank account will be designated inactive if you haven’t done any transaction in the account for 12 months. If you are lucky, your bank may bring the account to your notice and may go ahead to inform you of the impending consequences of not transacting with the account before the 12 months’ time frame elapses. On the other hand, if you aren’t lucky, your bank may designate it inactive without informing you. There are some ways to determine if your account is active or not, and among these options is the online method.
To check if your account is active or not using the online method, simply login to your online banking with the aid of your username and password. After logging in, you should be able to determine if it is functional or not.
Aside from your username and password, you may need to answer some security questions before you are allowed access to your online banking. Just ensure you have all the necessary details ready to avoid setbacks.
