Here we go on the topic of the post, if your bank account is frozen can you withdraw money. How possible can a bank customer withdraw money from a frozen bank account.
There’s no doubt that freezing a bank customers account can be quite annoying, especially as no debit transaction can occur in the bank account.
Banks do freeze their customers bank accounts over suspicious activity which is one of the most common reason, because of a court order by a creditor, etc. When such cases happen, you see the bank customer asking the possibility if your bank account is frozen can you withdraw money.
This is what I’m here to explain, as my bank account was once frozen by my bank.
If your bank account is frozen can you withdraw money
Going straight to the answer, you can’t withdraw money if your bank account is frozen. There’s no possibility that a bank customer can make a withdrawal when it’s bank freezed his or her bank account.
This isn’t just applied to cash withdrawal but rather all debit transactions.
As long as bank freezed your bank account, you can’t withdraw or the use the account for payments or even money transfer. That is to tell you that no debit transaction will occur in the bank account until the restriction is removed from the bank account.
I know this is quite frustrating especially if you have a huge sum amount of money, and maybe you’re in a dire need to withdraw the money. Freezing of a bank customers account is so annoying but on the contrary, there’s nothing you can do other than to contact your bank and inquire why your bank account was frozen.
From there you will know the next action to take.
Going back to the question again, if your bank account is frozen can you withdraw money?
The answer is no, you can’t withdraw or make a debit transaction until your bank unfrozen your bank account.
How to get money from a frozen bank account
Looking at the question on how to get money from a frozen bank account, I’m sorry that is not possible. Once your bank account is frozen, there’s no way you can get money from a frozen bank.
It is definitely not going to happen.
When a bank freezes a customer’s account, the restrict debit transactions which includes cash withdrawal. No matter how hard the bank customer tries to withdraw money from its frozen account, it won’t go through.
This is to tell you that it is not possible to get money from a frozen bank account. Even if you have a large sum amount of money in your bank account, there’s no way you will get money from it cause there’s a debit restriction imposed on the account.
This is quite similar to the question on if your bank account is frozen can you withdraw money. It so impossible and people are not aware of it.
Can you unfreeze a frozen bank account?
Absolutely yes, you can unfreeze a frozen bank account by doing the necessary things required from you from the bank.
1. In the case of a suspicious activity
For example, your bank account was frozen because of suspicious activity. This is usually the case if large single deposit transferred to your account, and the bank couldn’t figure out the source of the fund.
Most times the bank will call you to come over to the bank and state the source of funds. If the customer didn’t do so or give a valid information about the source of funds, this will make the bank to freeze the customer’s account based on suspicious activity.
If your bank gives you a call to state or clear up the air about the single cash deposit transferred to your bank account, don’t hesitate to tell them every information they needed.
So if your bank account was frozen based on suspicious activity, you need to give your bank all the information they require which is usually stating the source of your funds.
Suspicious activity isn’t just about cash deposit, if there’s an excessive cash withdrawal or transfer, this sometimes prompt the bank to freeze a customer’s account. In this case, they are freezing your account to secure it.
For example, if the bank detects repetition of series of pin on atm withdrawal or transfer, they can freeze the customer’s account in order to prevent debit transactions from occurring.
The bank will later put a call to customer to come and do some verifications. Later the bank account will be unfreeze.
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2. In the case of a court order
Banks do freeze their customers account through a court order usually brought by a creditor. Once a creditor obtains a court order to pay back the money you’re owed him or her, the first thing bank will do is to freeze your account.
Next is to pay the creditor the stated amount from your bank account. If the account balance in your account is insufficient, the bank account will remain frozen until you pay up your debts.
Going back to the topic of this post, if your bank account is frozen can you withdraw money.
This is one of the cases that prevents a bank customer from making withdrawal or any debit transactions, so as to pay the creditor the money owed before the bank customer removes the entire money in its account.
If your bank account was frozen because of debts owed to a creditor, there’s nothing you can do other than sorting things out with the creditor though bank do pay the creditor from the frozen bank account especially if the balance is sufficient.
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Can money be paid into a frozen bank account
Absolutely yes, money can be paid into a frozen bank account.
Frozen account doesn’t mean that the account is closed and no transaction will occur in the account, but rather debit transaction is restricted from the account. That simply means that you can pay in money into the frozen account, but can’t withdraw the money or use it for paying bills online.
You can’t transfer money out from your frozen account. This is why I said debit transaction is restricted, while credit transaction will go through.
Indeed money can be paid into a frozen bank account but money can’t be withdrawn or removed from the bank account.
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I do hope to have properly answered the question on if your bank account is frozen can you withdraw money. Again, kindly know that you can’t withdraw money or make any debit transactions on a frozen bank account.