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Cool half a billion on sleeping bank accounts

Over a half a billion euros is deposited on sleeping bank accounts in Belgium.  This is good news for the Belgian treasury in these cash-strapped times.

The figure is nearly twice as high as 5 years ago.  A bank account is termed ‘sleeping’ when no transactions happen for 5 years and if the bank doesn’t have any contact with its client. Banks will now have to make an ultimate attempt to contact these clients.  If this fails, the cash will be transferred to the finance ministry.

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