There is for sure email warnings at the very least, they run on certain days of each month. This is for sure.
I think once there is small residual amount in month 12 it"s cleared. I cannot remember the exact formula but you can find in the terms and conditions.
Hi Gareth
As regards email warnings, I am currently investigating this with 888, progress is slow. I did not recieve any warnings to my knowledge although its possible an old email address could have been used.
With regards the 10% reductions, let me clarify by highlighting the terms and conditions below:
"the Company will levy a monthly administration fee at a rate of 10% of the balance in the account on the date that it became dormant. The administration fee shall be deducted from the dormant account commencing from the last day of the sixth month in which the account is inactive and on the last day of every month thereafter, until the balance of the account has reached zero."
In other words if the "dormant" account has $100 10% is calculated as the monthly administration fee and this is deducted over 10 months at which time the account will reach zero. Simple!