Need some dormant account assistance. We currently use Symitar and the system tracks accounts with no activity for 12 months or more as dormants. A Dormant Account Report is provided monthly which identifies these accounts. The problem is the report identifies all sub-accounts within the same account number without activity for 12 or more months as dormant regardless of transactions that occur on sub accounts. Example - Member has an active checking account but never uses the share account. The report tracks the share as dormant. We end up with a massive report to look through. The end result is the majority of the accounts we look at are not true dormants. Will anyone that uses Symitar be willing to share how you track your dormant accounts? Do you use the standard report provided by Symitar?
November 15, 2013 - 5:13pm
#1
