One of the leading banks in the US, Wells Fargo, has made an important announcement regarding bank accounts that have been inactive for a long period of time.
Surely many Bulgarians have accounts there.
The bank announced that it will close bank accounts that have been inactive for more than 16 consecutive months, reports „Union Rayo“.
When this happens, customers who find themselves in this situation will lose their money. Wells Fargo considers inactive accounts to be those that have not registered activity, bank transactions, deposits, payments or purchases for 16 months, reported Aktualno.
At the end of the warning period, if the bank’s customers do not activate the accounts and there is money in them, they will go to the state, according to state laws. And its recovery will not be easy, so it is best to avoid this situation.
To warn its customers, the bank sends notifications to affected users before deleting them, although it is not obliged to do so.
Although this message may cause great concern among Wells Fargo users, it is not as serious as it seems. To begin with, this notice is more aimed at those who have an account open for periodic use or for savings in emergencies. And in order not to be closed, it must simply be used to prove that the account is not inactive. To do this, some transaction can be made, money can be withdrawn or deposited or something can be paid with the bank account in question, so that it is automatically removed from the list of inactive accounts.
Regarding the dates for the deletion of accounts, „Union Rayo“ specifies that in April Wells Fargo will start sending notices and will subsequently close accounts that it considers inactive. It is also stated that this decision was taken by Wells Fargo to reduce operating costs, since banks are required to identify the holders of inactive accounts, which involves time and resources, writes „Marca“.
