Dormant accounts

Where your account has been inactive for an extended period, we will write to you asking whether you wish the account to remain open. If no response is received within 1 month of a letter being issued, we will mark the account(s) as dormant. This means that after this period has expired, in order to protect your interests, you will not be able to access your accounts online or through telephone banking. Dormancy also means that you will not be able to make any deposits or withdrawals to or from the account(s).

Why do we make an account dormant?

The main reason we classify an account as dormant is to protect you in the following ways:

  • It can prevent fraud as it is not good practice to send statements and other account material to a potentially out of date address, where someone other than you could try to access the account.
  • It can protect your privacy by not allowing confidential information to go to an address at which you may no longer live.

Please be assured that any funds that you may have in an account that has been made dormant will remain your property. In addition, accrued profit will continue to be posted to savings account(s) when an account has been made dormant.

What can you do to stop your account(s) from being classified as dormant?

You have a number of options available to you to ensure that your savings account(s) and/or
current account(s) remain active and these are listed below:

  1. Carry out a transaction on your Al Rayan Bank savings account. This can be depositing, withdrawing or transferring funds on your internet banking account or telephone banking.
  2. Carry out a transaction on your Al Rayan Bank current account. This can be transacting on your internet banking account or telephone banking. Alternatively, using your Al Rayan Bank debit card you could withdraw cash from an ATM machine or simply make a purchase.
  3. Contact us and use your Personal Security Number to let us know that you will use your savings account(s)*.

* Telephone lines are open from 9am to 5pm Monday to Friday.

What will happen if no action is taken?

If we do not hear from you, or you do not transact on your savings account(s), within 1 month of the date of Al Rayan Bank contacting you, your savings account(s) will be made dormant.

For your security, we will also not send any correspondence or statements to your address registered with us until we have been able to re-establish contact with you.

Once your account(s) has been made dormant, you will need to provide us with your up to date proof of identity (e.g. current signed Passport or UK Full driving licence) and where there has been a recent change of address, proof of address documents (e.g. a recent Utility Bill or Bank Statement dated within the last 3 months). You will need to do this either in person or by sending the originals or certified copies of the documents to us through the post in order for your account(s) to be activated.

If you have any questions regarding dormant accounts please contact us.