Yorkshire Building Society
1. What is your definition of a dormant account?
We treat an account as dormant when we have a No Trace 3 marker on the account (i.e. 3 items of correspondence have been returned indicating the customer is no longer at the address we hold for them) AND either there have been no transactions for 3 years where the balance is less than £100, or there have been no transactions for 5 years where the balance is £100 or more.
2. How many dormant accounts do you have?
Approximately 63,000 open accounts are currently flagged as dormant.
3. How much money in total do you hold in dormant accounts?
Total of the balances in these dormant account is £3.7m.