Is there is any difference between inactive and dormant accounts?

If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account. And if you don’t do any transactions from a bank account for 24 months, then it will be classified as dormant

The main difference between these two types is time spam, If there is no transaction since 12 months it will be inactive and if there is no transaction more than 24 Months it will be called Dormant. Thanks

Thanks for the invitationand waiting for the answer of colleagues.

The Correct and best Answer added by: Mohammed El Tahir Mohammed Yousif   Finance Manager ( First Acting Finance Manger & Cost controller) then which currently finance manage 10 days ago

Inactive account is an account you don't done any transactions through it for more than 12 months. _If you don't do any transactions from s bank account fir 24months, it's classified dormant

if you have a current or a savings bank account and have not done any transactions through it for more than 120months , that will be classified as in inactive account .