When does the fees stop?

whatup123

Stompa wrote: »

I would have thought the account has simply become dormant due to lack of use.

..tho im reading in gov.uk it takes 15+ years for dormancy

Stompa

whatup123 wrote: »

..tho im reading in gov.uk it takes 15+ years for dormancy

I've had unused accounts become dormant much quicker than that. It looks as though that's also the case with RBS:

https://www.thisismoney.co.uk/money/experts/article-1707782/Has-RBS-pinched-my-dormant-cash.html

jonnygee2

I would have thought the account has simply become dormant due to lack of us

That is most likely, it's what will probably have happened if the balance stayed positive.

But what can also happen is that there can be a card payment from a CPA, a bounced direct debit and then a bank fee applied etc which puts the account a few pounds overdrawn.

Then, you get an unauthorised overdraft fee, unauthorised overdraft interest etc and the amount overdrawn increases steadily over time.

This is why leaving old bank accounts unwatched is a really bad idea!