Hsbc dormant account

Extant

oldwiring wrote: »

On that as a 73 yo who retired at 51 from banking I do feel standards have gone down the pan. In the old days there would have been a letter or a phone call.

If you left banking in ~1987, you must surely be aware that standards have not "gone down the pan," they have simply migrated. It was not many years ago when a cashier would dismiss you from their till/wicket if your cheques were not presented correctly.

It's also strange that you're forgetting the deregulation trend of the 1970s/80s coupled with the increasing prudential regulation of the 80s/90s, the drop in the savings ratio, the increase of liquidity vs asset risk, etc. which mean that the old fashioned approach is not only no longer sustainable but just plain doesn't work.

YorkshireBoy

UKNOV wrote: »

The definition of a dormant account is someone whu they are unable to reach over a long period of time.

I'm not sure where you got that definition from.

Mine would be "an account which has seen no transactions, ie 'throughput', either in or out, for a period of time".

UKNOV

Yes you are probably right, i was looking at what their terms and conditions said. However whilst i agree with you, 35 days is very harsh, some people actually go on vacation for that period!