MemberSince99 wrote:They can actually close it at any time for any reason or no reason at all technically you know.
Any reason not otherwise prohibited. They can't, for instance, close you account because they discover they don't like your skin color, or your religion. They can close the account because they discover you don't eat enough cauliflower; they'd have a harder for not enough bacon. (Probably a proxy for religion.).
The regulation the OP is siting says something to the effect of 'solely because you haven't paid interest', but it makes it more difficult for the bank to close the account due to non-activity until three months.
As a practical matter, I doubt many banks will close the account that fast. There are substantial costs of acquiring a new account, and throwing that away for a few months non usage is a waste.