AYEYAWADY Bank (AYA Bank) has announced that accounts inactive for over one year will be classified as dormant and subject to maintenance fees.

Current Accounts, Savings Accounts, and Call Accounts at various branches that have had no deposits or withdraw­als for 365 consecutive days (one year) from the date of the last transac­tion will be automatically reclassified as Dormant Accounts.

These accounts will lose access to over-the-counter services at branches and will be tem­porarily suspended from using e-Banking, Mobile Banking, Payment Sys­tems, ATMs, and all card services.

The account holder must visit their nearest branch to reactivate ac­counts personally. Service fees are deducted quar­terly, every three months.

If the account hold­er does not contact the bank within 90 days after the first fee deduction, a second deduction will be made. The deductions will continue quarterly until the account balance is exhausted. Once the bal­ance reaches zero, the bank will automatically and permanently close the account.

Furthermore, ac­counts that have re­mained dormant for sev­en years or more will be subject to further action in accordance with the policy guidelines issued by the Central Bank of Myanmar under the Fi­nancial Institutions Law, AYA announced. — TWA/ KK