What is a dormant account ?

The French law of 13 June 2014 coming into force on 01 January 2016, defined the rules to qualify an account as dormant. The dormancy of an account depends on several criteria :

- If it is a current account (deposit account, sight account) or a savings product (Livret A, LDD, Plan Epargne Entreprise, etc.)

- If the account holder is alive or deceased

- If the account holder has kept in contact with the financial establishment.

Current account :

For 12 months, 2 cumulative conditions must be met for the account to be qualified as dormant:

- No activity in the account (management fees are not considered as activity)

and

- No communication on the part of the account holder with the bank for this account or for another open account under the same name in the same bank.

The account is declared dormant in the bank, which holds it for you for 10 years.

Plan d'épargne, Livret d'épargne or Plan d'épargne entreprise (Livret A, Livret de Développement Durable, etc.) :

For 5 years, 2 cumulative conditions must be met for the savings product to be qualified as dormant:   on annonce 2 conditions et il n’y en a qu’une en français aussi : ?

- No activity in the account (management fees are not considered as activity)

N.B.: If the savings product has been blocked for a certain period of time, the dormancy of the product begins at the end of the unavailability period, in other words, from the moment the sums become available to the holder.

The account holder is deceased

The account is qualified as dormant when, for a 12 month period after the death of the holder, the beneficiary holders have not informed the financial establishment of their desire to exercise their rights.

The account is declared dormant in the financial establishment, which holds it for the beneficiaries for 3 years.

After a certain time period without any activity or communication from the holder, the financial institution will, between July and December 2016, send the money from dormant accounts to Caisse des Dépôts.

An online search service from Caisse des Dépôts will be made available to you from January 2017 to make finding and recovering unclaimed amounts easier. This website will be available after the deposit of all the unclaimed amounts by the financial institutions.

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