As part of our commitment to maintain the security of your banking relationship, and in compliance with the requirements of Banking Control Commission of Lebanon (BCCL) Circular No. 4/2025, we kindly invite you to review the following important information regarding dormant accounts.
1. Definition of Dormant Account:
An account may be classified as Dormant when customer do not initiate transactions or activities on the account for a specified period (more than two years), as determined by the applicable Bank's policies and procedures.
The inactivity period is generally calculated from the date of the last customer-initiated transaction or activity on the account.
2. Consequences of Account Dormancy
When an account becomes dormant:
- The account may be subject to enhanced monitoring and control procedures.
- Banking services and transactions may be restricted until the account is reactivated.
- The Bank may be required to undertake additional verification procedures before processing transactions.
- Fees and commissions, where applicable, may continue to be charged in accordance with the Bank's approved Schedule of Fees and Commissions and applicable regulations (refer to Bank website).
- Communication difficulties may arise if the customer's contact information is outdated.
3. How to Reactivate a Dormant Account?
To reactivate a dormant account, customer is requested to:
- Visit his branch in person.
- Present valid identification documents and any additional documents requested by the Bank;
- Update personal and contact information, if required;
- Complete and sign the necessary account reactivation forms and declarations;
- Execute a banking transaction on his account
The Bank reserves the right to request any additional information or documentation deemed necessary to satisfy regulatory, compliance, and Know Your Customer (KYC) requirements.
4. How to Avoid Account Dormancy?
To keep your account active, we recommend that you:
- Conduct regular transactions on your account (it could be through mobile app);
- Review your account activity periodically;
- Ensure that your contact details, address, telephone number, and email address remain up to date;
- Promptly respond to any communication received from the Bank regarding your account.
5. Importance of Maintaining Active Accounts
Maintaining an active account helps:
- Ensure uninterrupted access to banking services;
- Facilitate communication between you and the Bank;
- Reduce the risk of unauthorized use or fraudulent activity;
- Avoid restrictions associated with dormant account status.
6. Customer Communication
In accordance with applicable regulations, the Bank may contact customers through available communication channels, including SMS, email, telephone calls, mobile banking notifications, or written correspondence, to inform them of account inactivity and the actions required to maintain or reactivate their accounts.
7. Additional Information
For further details regarding dormant accounts, applicable fees and commissions, or account reactivation procedures, please contact your branch or our Customer Protection Unit through:
Customer Service Hotline:+961 1 965 000
Email:info@lgbbank.com
Website:www.lgbbank.com
We thank you for your continued trust and cooperation.
LGB BANK SAL
