Inactivity or Dormancy Fees

Inactivity or Dormancy Fees silently drain savings accounts left untouched for 6-12 months, charging $5-$10 monthly until the balance approaches zero. Unlike vague inactivity policies elsewhere, these fees are explicitly codified in 28 state laws but often waived for accounts with automatic transfers. Banks typically notify customers after three months of dormancy, yet 1 in 5 affected consumers never receive the notice due to outdated contact info.