What do you mean by a long-term account?

A long-term suspended account refers to a dormant account where the obligee has not handled business for a long time. In the banking industry, those who fail to handle deposit and withdrawal business for a long time are called dormant account; In the securities industry, accounts that have not traded stocks or other securities for more than three years are called dormant accounts. These two types can be called long-term suspended accounts.

There are four main reasons for its formation:

1, the account balance is small, and the account closing procedures are complicated, which leads to the customer giving up the account balance and not closing the account;

2. Due to the change of customers or customer information, the bank cannot notify customers to cancel their accounts;

3. The management of bank account opening is not strict, and the number of re-opened accounts is lighter than the quality of account opening, resulting in low balance and low utilization rate of a large number of accounts;

4. The bank account management mode is relatively backward, there is no unified account identification mark, the central bank account management system is separated from the commercial bank account management system, and the automation level of account management is relatively low.