Based in Dubai, Mashreq Bank was founded in 1967 as the ‘Bank of Oman’. It was the first bank to introduce consumer loans, install ATM cash dispensers and issue debit and credit cards in the UAE. The bank offers various banking products like bank accounts, loans, credit cards, etc. for individual and corporate customers.
The bank accounts in the Mashreq Bank become dormant if not used for a long time. In this article, we will help you understand how you can reactivate dormant accounts in Mashreq Bank. Let us begin with understanding what a dormant account is and how does an account become dormant.
If there is no transaction or financial activity in a bank account for a duration between 12 months and two years, the banks in the UAE categorise those bank accounts as dormant accounts. Any current or savings account in the Mashreq bank can be moved to this category due to prolonged non-operation.
Mashreq bank categorises dormant accounts to ascertain the security and avoid fraud in the account. Here are the consequences for a Mashreq bank account being dormant.
The Mashreq bank account holders can place a request for account activation in three different ways.
The Mashreq bank account holders can request the account reactivation by logging into internet banking and following these steps.
If the Mashreq bank account holders do not have access to an internet connection, they can also call the Mashreq helpline number +971 4 424 4444 and request the account activation.
The account holders can also visit the Mashreq bank home branch and follow these instructions to reactivate the account.
Here are some things that account holders can keep in mind to avoid their Mashreq bank account from being dormant.
If you have opened multiple Mashreq bank accounts, you can simply make transactions from one account to another to save them from being dormant. There is no additional fee for reactivating the Mashreq bank account. In fact, even if the bank account becomes dormant, the interest earned on the savings still gets credited to the account.
If you need any further assistance, you can talk to our financial support team. Our experts will help you through the process of reactivating the account.