Ecuadorian Banks can expropriate money from dormant accounts

Published on April 06, 2018
Ecuadorian law allows banks to close a bank account that has been dormant for at least five years.  Banks and cooperatives are obligated to transfer those funds to the government, where they will be used for social services. It is illegal for banks to transfer dormant funds to their own accounts. “The only deposits which […]

To view this article you must have an active subscription.

Subscribe to weekly reports on Ecuador’s economics, politics, crime and more.

Not sure you want to commit? Don’t worry, you can cancel anytime.

Subscribe now!

Already a member? Sign in.

0 Comments

Pin It on Pinterest

Share This