OJK Introduces New Regulations for Dormant Bank Accounts

Standardizing Banking Practices and Customer Protection

The Financial Services Authority (OJK) has officially introduced new regulations regarding the management of dormant or inactive bank accounts through OJK Regulation (POJK) No. 24/2025. This regulation aims to standardize banking practices across financial institutions while enhancing protection for customers.

Key Provisions of the New Regulation

The new regulation classifies a bank account as dormant if there are no transactions or balance inquiries for more than 1,800 days (approximately five years). This classification is based on the absence of any financial activity, including deposits, withdrawals, or even simple balance checks. The decision to set the inactivity threshold at five years is supported by legal provisions under Civil Law (KUH Perdata), specifically Articles 467 and 468, which govern the statute of limitations on claims related to bank deposits.

Rationale and Implementation

Dian Ediana Rae, Head of Banking Supervision at OJK, explained that the five-year threshold is legally grounded and provides clarity for both banks and customers. The regulation is designed to balance the needs of financial institutions with customer protection requirements. By establishing clear guidelines for dormant accounts, OJK aims to create a more transparent and standardized banking environment.

Impact on Banking Sector and Customers

The new regulation is expected to have significant implications for both banks and their customers. For banks, it provides clear guidelines on managing inactive accounts, potentially reducing administrative burdens and legal risks associated with long-dormant accounts. For customers, it ensures that their inactive accounts are handled consistently across different financial institutions, with appropriate protections in place.