OJK Introduces Comprehensive Regulations for Dormant Bank Accounts

New Classification System for Bank Accounts

The Financial Services Authority (OJK) has issued POJK Number 24/2025, introducing a new framework for managing bank accounts in Indonesia. The regulation establishes three account classifications: active accounts, inactive accounts, and dormant accounts.

Account Classification Criteria

1. Active Accounts: Accounts with transaction activity including deposits, withdrawals, or balance inquiries
2. Inactive Accounts: Accounts without transactions for more than 360 days
3. Dormant Accounts: Accounts without transactions for more than 1,800 days (approximately 5 years)

Key Regulatory Requirements

The new regulation mandates banks to:

1. Establish clear policies and procedures for account management
2. Implement robust monitoring systems for account activity
3. Provide easy channels for account reactivation or closure
4. Display account status in both digital and physical banking channels
5. Enhance personal data protection and privacy measures

Rationale and Expected Outcomes

The OJK regulation aims to achieve several key objectives:

1. Standardize account management practices across different banks
2. Enhance consumer protection through transparent account handling
3. Improve financial system stability by reducing dormant account risks
4. Balance customer rights with bank operational requirements

Implementation and Compliance

Banks are required to adapt their systems and processes to comply with the new regulation. This includes developing appropriate customer communication strategies, updating account management systems, and training staff on the new procedures. The regulation represents a significant step in modernizing Indonesia's banking practices and enhancing the overall financial services landscape.