If you’ve received a notice about account dormancy, this article explains what it means and what to do next.

Why did my Bluevine account become dormant?

Accounts may be considered dormant if there hasn’t been customer-initiated activity for an extended period of time, as defined in Bluevine’s Deposit Account Agreement.

Examples of activity that keep an account active:

• Sending or receiving payments

• Deposits, withdraws, and other money transfers initiated by you

• Debit card transactions

Examples that do not count as activity:

• Logging in without making a transaction

• System-generated fees or internal adjustments

• Interest payments

• Rejected/returned transactions

If an account remains dormant, it may eventually close as part of standard compliance procedures. We send notifications before closure whenever required.

What is an account dormancy fee?

In some cases, a one-time dormancy fee may be applied after the inactivity period.

Here’s what to know:

• The fee is applied once prior to account closure.

• If the total balance of the account and all sub-accounts is less than the fee, only the remaining balance is taken.

• Accounts are never drawn negative due to this fee.

Any applicable fee is disclosed in advance via email. For more information on this fee, see section C12 of Bluevine’s Deposit Account Agreement.

Dormant account closure FAQ

We understand you may have questions following the closure of your account due to inactivity. This section provides information on accessing your balance and past statements and clarifies the status of the account closure.

What happens to my account balance?

If your account is closed due to dormancy, your remaining balance will be mailed via check to the business address on file. Unclaimed funds may be subject to escheatment after a time, as required by law.

How do I access my account statements?

Your account statements remain available even after your account has been closed. For compliance and regulatory purposes, we maintain all account statements for a period of 7 years from the date of the statement. 

Please contact us to request specific statements. Requests for statements older than 7 years may not be fulfilled.

Can I reopen an account closed due to dormancy?

Accounts closed due to extended inactivity (dormancy) are considered permanently closed to comply with financial regulations and cannot be reopened or reinstated.

However, if you wish to use our services again, you are welcome to apply to open a new account. The process for opening a new account is fast and easy.