OJK Introduces Three-Tier Classification of Bank Account Status: Active, Inactive and Dormant Accounts Determined Based on Customer Activity over Defined Periods

In an effort to strengthen customer protection and prevent any fraud or misuse of giro and savings accounts (collectively referred to as “Accounts”), the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Regulation  No. 24 of 2025 (“Regulation 24/2025”) on Account Management at Commercial Banks (“Banks”), which has been in force since 10 November 2024.[1] In essence, Regulation 24/2025 establishes various provisions that specifically relate to the management of customer Accounts, establishes account classifications and criteria, sets a number of mandatory policies and procedures for Banks, and introduces the obligation for customers to ensure that the statuses of their Accounts remain active.[2]