OJK Introduces New Regulations for Dormant Bank Accounts

Enhanced Financial Stability Measures

The Financial Services Authority (OJK) has issued new regulations through POJK Number 24/2025, introducing a framework for managing dormant bank accounts. According to the new rules, bank accounts without any transaction activity for more than five years will be classified as dormant. This regulation aims to standardize account management practices across banks, enhancing both financial stability and consumer protection.

Key Features of the New Regulation

1. Standardized Account Classification: All banks must classify accounts without transactions for over five years as dormant
2. Enhanced Consumer Protection: The new rules aim to prevent fraudulent activities and protect customer rights
3. Improved Transparency: Banks must maintain clear records and communication regarding dormant accounts
4. Consistent Banking Practices: The regulation reduces differences in how various banks handle inactive accounts

Implementation and Impact

The introduction of this regulation demonstrates OJK's commitment to maintaining financial system stability and enhancing consumer trust in the banking sector. By standardizing the management of dormant accounts, OJK aims to create a more transparent and fair banking environment. Banks will need to adapt their account management practices to comply with the new requirements, potentially affecting their operational procedures and customer communication strategies.