Understanding Dormant Accounts at ESSA Bank
If you received a notification that your account has become dormant, it means your account has been inactive for 1+ years. We want to help you understand what this means and how to easily keep your account active and secure.
What is a Dormant Account?
A deposit account automatically enters a dormant status when there has been no activity for an extended period (typically 12 months or more).
Potential Consequences
Once an account becomes dormant, it is important to take action to avoid the following:
How to Reactivate and Keep Your Account Active
Keeping your bank account active is a simple process. Here are ways to reactivate your account and ensure it remains open:
Contact ESSA Bank
We recommend visiting your local office or calling/texting to start the reactivation process. We will verify your identity and confirm your intent to keep the account open.
Make a Transaction
To officially reactivate the account and reset the dormancy clock, simply perform one of the following: make a deposit, perform a withdrawal, or initiate a transfer.
Monitor Your Mail
If your account is nearing the state escheatment deadline (3 to 5 years of inactivity), our Account Services team will mail three formal notices to your address on file to provide a final opportunity to claim your funds.
