Dormant account fees in Singapore are not set by one national price list. Banks define dormant, inactive or restricted accounts under their own deposit terms, and the cost may appear as a fall-below fee, a monthly account fee, a reactivation process, a closure step or a stated dormancy fee for certain accounts. The safest 2026 approach is to check the bank’s current fee schedule before leaving a low-balance savings, current, fixed deposit, business or foreign currency account unused.
Singapore deposit accounts
Dormant status
Fall-below fees
Account closure
No customer activity for a bank-defined period
Fall-below, monthly service or stated dormancy fee
Association of Banks in Singapore consumer banking code
Use, fund, convert or close unused accounts after checking terms
What a Dormant Account Means in Singapore
A dormant account is usually a bank account with no customer-initiated activity for a period defined by the bank. The exact trigger can differ by bank, product and customer segment. Some banks use wording such as dormant, inactive, restricted or suspended.
The ABS consumer code says a bank may freeze an account or restrict certain transactions after inactivity, and that the bank should notify customers on how to prevent dormancy or reactivate the account where this applies. It also notes that fall-below fees may be charged according to the bank’s prevailing deposit fee schedule.
That is why dormant account costs should be read together with minimum balance requirements, monthly service charges, account closure rules and the bank’s reactivation process.
Dormant Account Fee Risk Panel
Explicit Dormancy Fee
Some banks publish a stated dormant account fee. For example, ICBC Singapore’s personal fee schedule lists a dormant account fee of S$2 or equivalent per month.
Fall-Below Fee
A bank may still charge a fall-below fee if the balance remains under the required average daily or monthly balance, even if the account is rarely used.
Monthly Service Fee
Some current accounts, passbook accounts or hardcopy statement arrangements have monthly charges that are separate from dormancy wording.
Reactivation Step
A dormant account may require a branch visit, identity check, form submission or bank-assisted reactivation before normal transfers and withdrawals resume.
Dormant and Inactive Account Fee Watchlist by Bank
The table below uses public fee pages, tariff pages, account terms and bank notices available at the time of review. It is a verification checklist, not a promise that the listed charge is the only possible fee. Product terms, fee waivers and account types can change.
| Bank | Account Type Reviewed | Dormant or Inactive Rule Found | Published Fee or Related Charge | What to Check | Official Verification |
|---|---|---|---|---|---|
| DBS / POSB | Personal deposit accounts | DBS terms state that the bank may consider an account dormant after no transaction or activity for a bank-determined period. | Fall-below and service charges vary by account; examples include S$2 per month for some DBS/POSB savings accounts and S$5 per month for DBS Multiplier if the balance condition is not met. | Confirm the account’s minimum average daily balance, statement preference and closure eligibility before leaving it unused. | DBS fall-below fees DBS account terms |
| DBS | Business fixed deposit account | DBS states that a fixed deposit account with no funds placement activity within 6 months is considered inactive. | No monthly dormancy fee stated in the reviewed FAQ; the account may be reactivated by a deposit within 12 months of inactivity or closed if no funds are placed after 12 months. | Check whether a new fixed deposit master account is needed after closure. | DBS business FD FAQ |
| OCBC | Personal SGD deposit accounts | The reviewed personal fee guide did not list a separate dormant account fee under that wording. | Product service fees include examples such as S$2, S$7.50 or S$10 per month when stated balance conditions are not met. | Review the exact account type, age waiver, balance threshold and passbook or current account charges. | OCBC fee guide |
| UOB | Personal savings and current accounts | The reviewed deposit fee PDF did not list a separate dormant fee under that wording. | Minimum balance fees in the public fee schedule include S$2, S$5 and S$7.50 examples depending on the account type. | Check whether the account is a savings account, current account, children’s account or foreign currency account. | UOB deposit fees |
| Standard Chartered Singapore | Personal savings and current accounts | The public pricing page reviewed did not show a deposit dormancy fee under that term. | Published charges include fall-below fees and monthly service fees by product, such as S$5, S$7.50 or S$10 examples. | Confirm whether the account is Personal Banking or Priority Banking because fee treatment may differ. | Standard Chartered pricing |
| Maybank Singapore | Personal savings and current accounts | The reviewed public fee pages did not list a separate personal dormant fee under that wording. | Examples include S$2 per month for iSAVvy below S$500, S$8.50 for PremierOne personal below S$3,000 and S$10 for personal current account below S$3,000. | Check whether the account is savings, current, foreign currency, individual or non-individual. | Maybank savings fees Maybank current fees |
| CIMB Singapore | Personal savings and current accounts | The reviewed personal account fee page did not show a separate dormant account fee under that wording. | Many listed savings accounts show nil fall-below fee; CIMB SGD Current Account lists S$20 per month if average daily balance is below S$3,000. | Check whether the account is savings, current, Islamic, foreign currency or no longer offered. | CIMB account fees |
| CIMB Singapore | Business current account | CIMB states that a current account is deemed inactive or dormant if there are no outgoing transactions for 6 consecutive months. | S$50 per account per month after the account turns dormant; foreign currency amounts are listed separately. | Business accounts should check outgoing transaction activity, monthly balance and whether zero-balance closure rules apply. | CIMB corporate pricing |
| ICBC Singapore | Personal banking services | ICBC Singapore published a notice revising its personal dormant account fee from 1 January 2023. | S$2 or equivalent per month. | Confirm whether the account remains subject to the latest ICBC fee schedule and whether any waiver applies. | ICBC dormant notice ICBC fee schedule |
No matching rows found.
Some public fee pages list product service charges but do not use the exact phrase “dormant account fee”. That does not mean an unused account has no cost risk. Read the account terms, fee schedule and bank messages together.
Monthly Fee Examples From Public Schedules
The bars compare selected monthly charges found in public schedules. They mix different fee types, so they should not be read as a bank ranking.
| Fee Example | Amount | Why It Matters |
|---|---|---|
| Low monthly fee | S$2 | A small monthly charge can drain a low-balance account over time. |
| Mid-range fall-below fee | S$5 to S$10 | This can matter if the account is kept only for occasional transfers, cheques or legacy arrangements. |
| Business dormancy fee | S$50 | Dormant business accounts can be more costly and may also need formal reactivation steps. |
How to Avoid Dormant Account Fees
Check Account Status First
Log in to mobile or internet banking and confirm whether the account is active, inactive, restricted or closed. If online access is blocked, use the bank’s hotline or branch channel.
Confirm What Counts as Activity
Do not assume every credit, debit or balance enquiry prevents dormancy. Ask the bank whether a customer-initiated transfer, ATM withdrawal, card transaction, GIRO debit, PayNow transfer or branch transaction counts for that account.
Keep a Balance Buffer
If the account has a fall-below fee, keep the balance above the stated average daily or monthly threshold. For linked products, check whether foreign currency, investment or joint balances count toward the requirement.
Use Digital Payments Carefully
For everyday accounts, local transfers through FAST transfers, PayNow setup or GIRO payments can make account monitoring easier. Confirm with the bank whether that activity satisfies its dormancy rule.
Close Accounts You No Longer Need
If an account is only being kept “just in case”, compare possible dormancy, fall-below and paper statement costs with the bank’s account closure process. Check early closure fees before closing a recently opened account.
Keep Contact Details Current
Dormancy notices, fee changes and reactivation instructions may be sent through app notifications, email, SMS, statements or letters. Update your mobile number, email and mailing address before moving overseas or changing phone plans.
Reactivate, Convert or Close the Account
Reactivation May Fit If
- The account is linked to salary, rent, CPF, insurance, investment settlement, loan repayment or business collections.
- The account has a long-standing number used by payers or billing organisations.
- Closing the account may disrupt debit cards, GIRO arrangements, standing instructions or fixed deposit placement.
- The bank can reactivate it without high ongoing fees once the balance and activity requirements are met.
Closure May Fit If
- The account has no recurring incoming or outgoing payment.
- The balance is low and monthly charges may erode it.
- The account exists only because it was opened for a previous job, school, branch visit or promotional product.
- You have already checked early closure fees, cheque arrangements and linked services.
For customers comparing a fresh account setup with branch service, the online versus branch opening process can affect document checks, account activation and the fastest way to regularise a restricted account.
Special Account Types That Need Extra Checks
Fixed Deposit Accounts
A fixed deposit master account can become inactive even if the customer is only waiting for the next promotion. Check whether the bank requires new placement activity within a stated window.
Business Accounts
Business current accounts may have higher monthly balance requirements, dormancy fees, token fees and manual payment charges. Dormancy may also affect payroll, supplier payments and PayNow Corporate arrangements.
Foreign Currency Accounts
Foreign currency accounts can have separate minimum balances, non-SGD charges and cash handling rules. Closing or converting balances may involve exchange rates and commission-in-lieu-of-exchange charges.
Joint Accounts
Check the signing condition. A joint-all account may need all account holders for closure or reactivation, while a joint-alternate account may be easier to manage through digital channels.
Passbook Accounts
Older passbook accounts can involve branch procedures, replacement passbook fees and statement limitations. Do not leave a passbook account unused without checking its current fee schedule.
Customers Living Overseas
Before leaving Singapore, check online access, overseas mobile number support, OTP method, debit card expiry and whether the bank allows remote account closure or reactivation.
Dormant Account Cost Checklist
| Check | Why It Matters | Where to Verify |
|---|---|---|
| Dormant or inactive definition | The trigger period is set by the bank and may differ by product. | Deposit terms and product terms |
| Fall-below fee | This may apply even where no separate dormancy fee is listed. | Fee schedule and account page |
| Monthly service fee | Some fees apply regardless of dormancy status. | Pricing guide and statement notes |
| Activity that counts | A balance enquiry or inbound credit may not always be enough. | Bank hotline, branch or secure message |
| Early closure fee | Closing a recently opened account may cost more than keeping it active for a short period. | Fee schedule and closure page |
| Linked payment arrangements | GIRO, salary credit, card repayment, loan instalments or investment settlement may fail if the account is restricted. | Transaction history and billing organisations |
For broader fee definitions, compare dormancy with fall-below, early closure, cheque, ATM and transfer charges in the bank fee glossary.
Deposit Insurance and Dormant Accounts
Deposit insurance is separate from dormant account fees. The SDIC FAQ states that Singapore dollar deposits in savings, fixed deposit and current accounts are insured up to S$100,000 in aggregate per depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and investment products are not covered in the same way.
Deposit insurance does not waive account fees, reverse dormancy charges or keep an account active. It is protection for eligible deposits if a Scheme member fails, subject to SDIC rules.
FAQ
Is there one dormant account fee for all Singapore banks?
No. Banks set their own account terms and fee schedules. Some publish a stated dormancy fee, while others show fall-below or monthly service charges that can still affect unused accounts.
Can a small balance be reduced by dormant account charges?
Yes. A low-balance account may be reduced by fall-below fees, account fees or a stated dormancy fee, depending on the bank and product terms.
Does making one transfer always prevent dormancy?
Not always. Banks may define qualifying activity differently. Ask the bank whether a transfer, card transaction, ATM withdrawal, GIRO debit or other action counts for that account.
Can I ask the bank to waive dormant account fees?
You can ask. The ABS consumer banking code says customers may approach the bank to request a waiver where fall-below fees apply, but approval depends on the bank’s internal policy.
Should I close an unused Singapore bank account?
Closure may make sense if the account has no linked payments and ongoing fees are likely. Check early closure fees, GIRO links, card repayment arrangements and any foreign currency balance before closing.
Verification Notes
Fee data and account wording were checked against public pages from DBS/POSB, OCBC, UOB, Standard Chartered Singapore, Maybank Singapore, CIMB Singapore and ICBC Singapore, plus the Association of Banks in Singapore consumer banking code and SDIC deposit insurance information. Bank tariff pages may be updated during 2026, and customer-specific waivers may depend on age, account segment, relationship balance, account opening date, promotion terms or bank review.
