About 10 million euros are added annually to state coffers from dormant bank accounts.
In fact, these are deposit accounts that no transaction has been made in the last 20 years. When there is no transaction in an account for 24 consecutive months, then it is characterized as inactive. Any movement can restore it to an active state. This movement may concern a purchase on the internet or the payment of water and energy bills.
Another 18 years have to pass so that the funds turn over to the state. Dormant accounts are not classified: Accounts with the exclusive use of guarantee and time deposit accounts.
Most dormant deposits are found in banks with the largest number of private depositors, and of course the older a bank is, the more dormant accounts it has. More than 1/3 of the dormant deposits are found in National Bank, while Alpha Bank also has dormant deposits due to its history, as well as Piraeus following its merger with the Agricultural Bank.
According to budget reports, funds from dormant accounts have been increased by around 50 million euros over the last five years.
