11 June 2022 10:08

Used to have German current account, left without closing it

Do I have to close my bank account when I leave Germany?

Many expats prefer to keep their German banking account(s) even after they have left the country. In any event, it’s a good idea to keep your account at least for several months after you leave, in order to pay last-minute expenses and take care of other financial matters.

What happens if I don’t close my current account?

An inoperative bank account entails a penalty, which depends on the concerned bank’s policy. The penalty holds true only during the period when the account is non-operational. This charge is levied on an annually and isn’t a lot. Also, customers are penalized if the minimum account balance is not maintained.

What happens to dormant bank accounts in Germany?

If a German bank does not observe any activity for one year, the clock literally starts ticking. After a total of thirty years, banks are allowed to close the affected accounts and transfer the funds as “extraordinary profit” – strengthening the equity of the respective bank.

Is it necessary to close bank account if not in use?

According to the RBI’s norm, if a customer discontinues using his or her account for 12 consecutive months then banks will automatically make then inactive, and more than extra inactive 12 months will make it a dormant account. So, we are here to guide you as to how you can close your inactive bank account.

How long does it take to close a bank account in Germany?

two minutes

You can close the Deutsche Bank account by going to one of their offices and requesting it personally. You can cancel it through Aboalarm.de, just follow the link below, enter the name of the Bank, and follow the simple instructions, it’s fast, reliable, and efficent. It takes only two minutes.

What do you need to do when leaving Germany?

Your Leaving Germany To-Do List

  1. Give Your Notices On Time. …
  2. Cancel Contracts With Service Providers. …
  3. Deregister Your Kids From School, Kita Or Kindergeld (If Applicable) …
  4. Deregister Your Address (Abmeldung) …
  5. Deregister From Radio Tax (Rundfunkbeitrag) …
  6. Check the Possibility Of A German Pension Refund.

Will a bank account close automatically?

A bank generally can close your account at any time and for any reason—and sometimes without notifying you in advance. Reasons a bank may shut down your account include using your account very little or not at all, or bouncing too many checks.

What happens if you abandon a bank account?

When your leave your deposit account negative your bank can impose fees, freeze the account and eventually close it. Bank accounts that are closed with negative balances are often reported to credit agencies and show up on your credit report as unpaid debts.

How long before an inactive bank account is closed?

When an account has no transactions for 12 months, it is considered inactive. If there is no activity for 24 months, it is deemed dormant. Remember, system-generated activities like interest credits don’t count. A “transaction” is an activity initiated by the account holder like cashing a check.

Is there any charges for dormant account?

No. Banks are not supposed to charge for reactivation of dormant accounts.

Will a bank account automatically close if it reaches zero balance?

Any Account with zero balance, regardless of status, may automatically be closed by the Bank without notice.

How do I know if my bank account is still active?

In most cases, the easiest way to determine whether an account is still active is to try to log in to the bank’s website or to use an ATM card to check a balance.

How do I reactivate an inactive bank account?

Reactivating your bank account

  1. You must submit a written application to the bank. For joint accounts, signatures of all accountholders will be needed, irrespective of a single or joint operating mode.
  2. You will have to submit your KYC (Know Your Customer) documents. …
  3. You have to do at least one financial transaction.

What is difference between dormant and inoperative account?


If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account. And if you don’t do any transactions from a bank account for 24 months, then it will be classified as dormant.

Can I activate my dormant account online?

44/14.01. 001/2016-17 dated December 06, 2016), dormant account shall be activated only after obtaining certified copies of officially valid documents for proof of identity and address from the customer. You can log into internet banking go to the service request section and select “Activation of Dormant Account”.

Can a closed bank account be reopened?

In most circumstances, once a bank account is closed it can’t be reopened. You’ll have to open a new bank account with your institution or bank somewhere else if you’re unable to find an account that interests you.

How do I find out if my bank account is dormant?

Find your account

You can go and search on the bank’s website whether your account has become inoperative. Banks maintain a record of all accounts that have become inoperative, and information about those accounts are available for easy search on their websites.

Why do banks make accounts dormant?

Accounts go “dormant” simply because an account holder hasn’t made any deposits, withdrawals, or transfers in a set period of time. This could happen if someone lost their job or even died, for example. Accounts are then flagged as dormant for being inactive.

How do I get money from my dormant account?

To recover this fund, you need to contact your bank branch and fill out the requisite forms and provide your KYC documents. Your bank will contact the RBI to recover the funds. You can also revive your inoperative account by completing your KYC. As a habit, ensure that you operate your account regularly.

Can I deposit money in a dormant account?

A dormant account is a bank account that has been unused or inactive for 12 months. The activities that help you keep your account active include making deposits, money transfers, withdrawals, or even logging into the account.

What happens when your account is dormant?

Key Takeaways. A dormant account is an account that has had no financial activity for a long period of time, except for the posting of interest. After the dormancy period, which varies by state, dormant accounts become the unclaimed property of the state.

What happens if money is sent to an inactive account?

If you happen to send money into a closed account, the bank may keep it open. This allows customers to fix the oversight if not replenish the balance within 24 hours.

Can a bank take your money for inactivity?

There’s a common fee that banks often do not clearly disclose that can easily sneak up on you. It’s the inactivity fee. Many banks and credit unions will charge your savings or checking account a monthly inactivity fee after a certain period of time in which there are no customer-initiated deposits or withdrawals.