Account Dormancy & Account Closure
Will I be notified after my account is closed?
Yes, you will be notified when your Ryt Bank Savings Account has been closed successfully. Ryt Bank will send you an email confirming the closure of your account, along with your final e-Statement.
How do I re-activate my account after it turns dormant?
To reactivate your account, please contact our Support Agent at 03-5115 5115.
If my dormant account balances have been transferred to the Registrar of Unclaimed Monies, how can I claim my funds?
You can claim your funds by applying to the Registrar of Unclaimed Moneys (RUM). Contact details for RUM are as follows: Pendaftar Wang Tak Dituntut Jabatan Akauntan Negara Malaysia (Accountant General’s Department of Malaysia) Bahagian Pengurusan ...
What happens if my account remains dormant for a continuous period of seven (7) years?
If your Ryt Bank Savings Account remains dormant for seven (7) consecutive years, the balance will be classified as unclaimed money. We will issue reminders before transferring the funds to the Registrar of Unclaimed Moneys (RUM), in compliance with ...
Will I still receive interest when my account is dormant?
Yes, you will still receive daily interest on your account even when it is dormant.
What happens when my Ryt Bank Savings Account becomes dormant?
Once your Ryt Bank Savings Account becomes dormant, you will no longer be able to perform any outgoing (debit) transactions.
Can I open a new account after my previous account with Ryt Bank was closed?
No, you cannot open a new account once your previous account with Ryt Bank has been closed. Any changes to this will be made available on Ryt Bank website at https://rytbank.my.
My account was closed, can I re-open the account?
Please note that once your Ryt Bank Savings Account is closed, it will not be possible to re-instate it.
Why was my account closed?
There are a few reasons that may have caused your account to be closed, for example: Your account was dormant for a continuous period of 7 years. Your account was discovered to be involved in fraudulent activities or any suspicious activities with ...
What is account dormancy?
An account with no user-initiated transfers for 12 months consecutively.
How do I prevent my Ryt Bank Savings Account from turning dormant?
You must ensure there is at least one (1) user-initiated transfer to or from your Ryt Bank Savings Account within 12 months to prevent it from turning dormant. User-initiated transfer refers to you sending money to others, or others sending money to ...
How do I close my Ryt Bank Savings Account?
If you wish to close your account, please put in your request to our Support Agent at 03-5115 5115. To ensure a smooth account closure process, please take the following steps: 1. Make sure to transfer any remaining balance in your account to another ...