What is a dormant bank account ?

What is a dormant bank account ?

A dormant bank account is a bank account which there has been no transaction for 15 years or more.

If this happens, the bank where your account is held will try to contact you to find out what you want to do with the account. Any money not claimed will be transferred to a fund managed by the National Treasury Management Agency (NTMA).

The money remains yours and it can be reclaimed at any time, including interest. If you have a dormant account, contact the bank branch where the account was held.  If the bank no longer exists, contact the Irish Banking Federation. Then complete the relevant claim form. If someone has died and you think they had a dormant account, their next-of-kin can reclaim the money in the same way.

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie