Dormancy Fee Reduced to 30 Pesos per Month after 5 Years of Inactivity

The dormancy fee rules for bank savings and checking accounts have changed effective April 2017. 

➧ The dormancy fee shall not be higher than 30 pesos.
Most likely, 30 pesos na ang dormancy fee. Bakit pa sila sisingil ng mas mababa, eh 300 pesos nga yong dati nilang singil.

 ➧ The dormancy fee shall be charged only after 5 years of no deposit or no withdrawal
  and if the account balance is below the required maintaining balance.

     If the account balance is equal to or above the required maintaining balance, there shall be no dormancy fee charged.

➧ The bank is required to notify the account owner two times:
    At least 60 days prior to start of dormancy
    At least 60 days prior to the start of the application of the 30-peso-per-month penalty
    Notification shall be any one of these:
      postal mail
      text message
      phone call
      courier-delivered notice

➧  Previous dormancy time frames are still the same:
A savings account becomes dormant after 24 months of no deposit or no withdrawal.
A checking account becomes dormant after 12 months of no deposit or no withdrawal.

➧ When an account becomes dormant, the account is put on hold. To reactivate the account, the account owner needs to go to his branch with his valid IDs and reactivate the account.

➧ An account which has been dormant for 10 years will be reported by the bank to the Treasury of the Philippines. The money will be sent to the Treasury. This is called the process of escheat, and it is in accordance with the Unclaimed Balances law.
   Notification requirement: The bank shall notify the account owner at least 60 days prior to the 10th year of dormancy.

  Some banks impose two penalties at the same time:
     Penalty for below-maintaining-balance
     Dormancy fee

Source: BSP Circular No. 928 Series of 2016 Amendments to the Regulations Governing Fees on Retail Bank Products/Services and Dormant Deposit Accounts


  1. tanong ko lang po about dun sa maintaining balance penalty sa BDO. kasi halos 1 year ko na kasi di nahulugan ung account at zero balance na cya. gusto ko sana ulit lagyan ng pera kaso takot ako na baka libo ang ikaltas sakin sa penalty. kung sabi na 300/month nangangahulugan po ba na let say 10 months na zero balance. so ang penalty po ba ng bank eh 300 x 10? lalabas 3000 ang penalty ko. if ever na mag deposit ako ng 15,000 kakaltasan nila ng 3000? kasi 10 months na zero balance ako? please enlighten me po. thanks

  2. ➧ The dormancy fee shall be charged only after 5 years of no deposit or no withdrawal
    and if the account balance is below the required maintaining balance.

    Ang labo po nito - kasi kung below maintaining balance na nga, tapos 5 yrs, sa maintaining balance fees pa lang, ubos na ang laman - magkano lang nman ang maintaining balance.

  3. good pm mam nora, ask q lng po sna, meron po kc aq passbook savings account, for a couple of mos hndi q nmaintain un maintaining balance so matic po nchacharge aq ng 300,naun po naibalik q n un maintainin balance, more than the maintaining balance p nga po, since halos last day of the month q n po nabalik ncharge p dn po aq, ang tanong q po, moving forward mchacharge p din po b q ng 300?


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