UBA has issued a crucial update about inactive and dormant accounts that may greatly affect customers. It is recommended that customers check their account activity and familiarize themselves with UBA’s policies. For accurate information, please verify this directly with UBA.
In a message to customers on Wednesday, UBA noted that, following a directive from the Central Bank of Nigeria (CBN), savings accounts not utilized for a specified period will now be categorized as inactive or dormant.
Customers are urged to take this directive seriously, as it may lead to fees or restrictions on account access for those who do not act.
UBA emphasizes the importance of regular account monitoring to avoid any unintended consequences.
To check the status of their accounts, customers can easily access their online banking portal or mobile app. UBA’s customer service is also available to assist with any inquiries or clarifications regarding the inactive and dormant account policies.
It is crucial for account holders to understand that an account may be considered dormant after a period of inactivity, typically ranging from six months to one year.
Once classified as dormant, additional steps may be required to reactivate the account, which could include submitting identification and completing updated documentation.
In this context, UBA encourages its customers to stay informed and proactive in managing their finances. Engaging regularly with your bank account not only helps in maintaining an active status but also ensures that customers enjoy the full range of benefits and features that UBA offers.
