What are the basic requirements for Reactivation of a bank account?

If a individual, association of persons,
partnership and company have PKR/ Foreign Currency bank account and which is not operated from last year.

All Savings and Current Account opened in any currency including Foreign Currency Account that remain inoperative for a period of one year will be marked as Dormant Account.

Dormant Account will remain remain debit block for customer transaction however such account can be debited for recovery of charges and government tax or levies.

Prior dormancy letter shall be dispached one month advance of account being classified as dormant as per State Bank of Pakistan (SBP) instructions.

Guidelines:

• Credit entries may be allowed without changing the status of account.
• Debit Transactions or Withdrawals are not allowed until account holder submits written requests for activation of account.
• Produce original Computerized National Identity Card (CNIC).
• For activation of individual account a written request from customer is required.
• If account of entites other than individual Sole proprietorship , Partnership, Private and Public Limited Companies and Trust Societies dormant actovation request will be obtained on their letter head duly signed by authorized signatories.
• If account is operated Jointly signatures of all account holders will be obtained on account activation request.
• However Joint Account where operation of account is "Either or Survivor" signature of any one of the account holder is sufficient.
• After completion of documents asked the customer to conduct a transaction on the same day for reactivation of account.
• As per instructions of State Bank of Pakistan (SBP) statement of such account handed over to customer from the date of dormancy.

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