[Sean]

Hi there,

I have had some research sent to me that is suggesting that the CAIS File Specification 2007 has a requirement to report on dormant accounts. In this context I am assuming this is mainly applied to credit card debts etc. E.G – I cut the card up but never actually shut the account facility down.

Could this technically apply to CU’s with Revolving / Flexible credit also? Member has access to an amount but does not actually use it or the CU forgets to close the available balance down?

Wording is

From the CAIS 2007 File specification:

• An account that is more than 3 months old with a zero current balance and no account holder activity (debit or credit transactions) during the last two months.
• An account with a credit balance and no account holder activity (debit or credit transactions) for 12 months.

Any Sercle users with a view on this would be welcome. I am not sure we have the ability for the system to mark these debts as dormant?

Thanks

Sean Lynch - CEO Citysave Credit Union Ltd Mobile: 07787431350 E-mail: Sean.Lynch@citysave.org.uk

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