Improve the efficiency of capital utilization The bank continues to clean up "sleeping accounts"

Recently, the State Administration of Financial Supervision and Administration organized the special work of reminding banks of "sleeping accounts". This work will last for one year from October 2023. All banking institutions will remind and notify the holders of "sleeping accounts". Since this year, several banks have carried out the clean-up of sleep debit cards and long-term private accounts. Industry insiders said that this would wake up the sleeping "purse" and further improve the efficiency of capital utilization.

Clean the sleep card

In fact, the problem of "sleeping accounts" is widespread. Since this year, several banks have issued announcements on clearing such accounts.

In September, Bank of Communications issued a notice on cleaning up sleep debit cards, saying that since October 7, the bank will meet the requirement that no dynamic account transactions (including but not limited to deposit and withdrawal, transfer, etc.) have occurred for more than three consecutive years (including three years), the account balance is 0 yuan, and no business functions have been opened, including but not limited to automatic repayment of funds, wealth management, foreign exchange treasure, Pacific credit card Individual debit cards, such as appointment transfer, will be cancelled and cannot be used again after cancellation.

Bohai Bank also announced earlier that it would adjust the transfer frequency of individual long-term fixed accounts from the third quarter of 2023, from the original semi annual transfer (April 15 and October 15 of each year) to quarterly transfer (the 21st day of the last month of each quarter).

As early as May, the Agricultural Bank of China announced that it would carry out the screening and clearing of demand passbooks from July 2023. The scope of screening and clearing is the demand passbooks that have no transactions for more than five years (including five years), zero deposit balance and no other related businesses by the end of 2022.

In addition, Bank of China, Ping An Bank and other banks have also issued announcements on clearing related "sleep accounts", including debit cards and credit cards, but the scope of clearing and identification period of "sleep accounts" varies from bank to bank.

How to continue using

Data previously disclosed by the People's Bank of China showed that by the end of the second quarter of this year, 9.621 billion bank cards had been opened nationwide, up 0.5% month on month, and about 6.81 bank cards were held per capita.

The reporter of China Securities News found that there are many personal accounts and sleep cards, usually because the cardholder has opened several bank cards, but only one or two are commonly used, leading to some bank cards being idle. Dong Ximiao, the chief researcher of China Merchants Association, said that before the introduction of the classified management policy for individual accounts, the management of bank account opening was relatively loose, and there was no clear limit on the number of accounts opened, thus a certain number of sleep cards were accumulated.

What should customers do if they want to continue to use the "sleeping account" within the scope of clearing? Banks also have different measures. Bank of Communications said in the announcement that if a customer's debit card is within the scope of clearing but wants to continue to use it, it can be used before a specific date (or less than three years before the scope of clearing), and the balance should not be zero.

Bohai Bank issued a notice stating that if the personal account held by the customer is within the scope of clearing and still needs to be used normally in the future, it can operate any dynamic account transaction through the bank's business outlet counter or self-service channel in time before a specific date. If you no longer need to use the above account, please go through the account cancellation procedures as soon as possible.

In addition, the Bank's announcement shows that if the account has been restricted, you can use your valid certificate, passbook or card to any of the Bank's business outlets or use the Bank's electronic channels to verify your identity and apply for opening the account.

Bank of Communications said in the announcement that once the "sleeping" personal debit card is cancelled, it will not be able to be used again, and other normal debit cards under its name will not be affected.

Improve the awareness of accurate service

Why clean up the "sleeping account"? According to the recent disclosure of the State Administration of Financial Supervision and Administration, "sleeping account" mainly refers to a personal bank account that has no active transactions for 5 years or more and has a balance in the account. The reminder of "sleeping account" can help consumers understand the opening of their bank accounts, check, use or cancel redundant accounts in a timely manner, wake up sleeping "pockets", and improve the efficiency of capital utilization.

The above banks also mentioned the reasons in the announcement. For example, the Agricultural Bank of China said in its announcement that this is to effectively prevent new types of illegal crimes in telecommunications networks, effectively protect the security and legitimate rights and interests of accounts and funds, and promote the rational arrangement and use of personal bank account resources.

Bohai Bank said that, in accordance with the overall work plan and relevant requirements for combating cross-border gambling and new types of illegal crimes in telecommunications networks, in order to effectively safeguard property security and provide more convenient and high-quality financial services for customers, the Bank cleared up multiple bank settlement accounts (including long-term personal immovable accounts) opened by individuals.

key word: account bank Debit Card sleep