a b c d e f g h i j k l m n o p q r s t u v w y z search

TeachMeFinance.com - explain dormant account dormant account -- a savings account on which no transaction (except the crediting of interest) has occurred for a specified number of years. At the end of that time period set by state law, funds in the account escheat to the state. historic definition... Dormant account -- An account to which neither a credit nor a debit entry has been added for a protracted period; in speculation, an account in which a protracted period has elapsed since entries of transactions were made. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.