What Is a Savings Account? A savings account is a type of deposit account offered by financial institutions, primarily banks and credit unions. Unlike checking accounts, which are typically used for ...

Banks have the right to close accounts for various reasons, including inactivity, low balance or suspicious activity. Prompt action and communication with the bank are crucial if an account is ...

A bank account may be closed for a multitude of reasons, ranging from periods of inactivity to suspected fraud. The first step if your account is closed is to contact your bank and settle any ...

After several years of non-use, a bank account may be considered inactive and turned over to your state’s unclaimed property program. Banks must be careful to follow federal rules and ensure customers ...