Account Freeze

Account Freeze
An action taken by a bank or brokerage that prevents any transactions from occurring in the account. Typically, any open transactions will be cancelled, and checks presented on a frozen account will not be honored.

Account freezes can be initiated by either the account holder or a third party.

An account may be frozen by government or regulatory authorities because of suspicious activity, suspected criminal activity, civil actions or liens filed against the account. Furthermore, a bank or brokerage account may be frozen when the account holder dies. Once the appropriate documentation is presented, a new account will be opened in the beneficiary's name with access to the assets.


Investment dictionary. . 2012.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • freeze — freeze1 [ friz ] (past tense froze [ frouz ] ; past participle frozen [ frouzn ] ) verb ** ▸ 1 when liquid turns solid ▸ 2 preserve by making cold ▸ 3 feel extremely cold ▸ 4 weather: reach 0°C ▸ 5 stop moving/working ▸ 6 stop officially ▸ 7 stop …   Usage of the words and phrases in modern English

  • freeze — I UK [friːz] / US [frɪz] verb Word forms freeze : present tense I/you/we/they freeze he/she/it freezes present participle freezing past tense froze UK [frəʊz] / US [froʊz] past participle frozen UK [ˈfrəʊz(ə)n] / US [ˈfroʊz(ə)n] ** 1)… …   English dictionary

  • freeze — ▪ I. freeze freeze 1 [friːz] verb froze PASTTENSE [frəʊz ǁ froʊz] frozen PASTPART [ˈfrəʊzn ǁ ˈfroʊ ] 1. [transitive] COMMERCE …   Financial and business terms

  • freeze — [[t]fri͟ːz[/t]] ♦♦♦ freezes, freezing, froze, frozen 1) V ERG If a liquid or a substance containing a liquid freezes, or if something freezes it, it becomes solid because of low temperatures. If the temperature drops below 0°C, water freezes...… …   English dictionary

  • Mr. Freeze — and Batman Art by Greg Land Publication information Publisher DC Comics First appearance …   Wikipedia

  • Credit freeze — A credit freeze, also known as a credit report freeze, a credit report lock down, a credit lock down, a credit lock or a security freeze, allows an individual to control how a U.S. consumer reporting agency (also known as credit bureau: Equifax,… …   Wikipedia

  • Frozen Account — An account to which no withdrawals or purchases can be charged. This usually occurs when the account holder fails to pay promptly for purchases charged to the account. For example, cash accounts are frozen for 90 days until the full purchase… …   Investment dictionary

  • Deceased Account — A bank account, such as a savings or checking account, owned by a deceased person. When a bank receives notice that a customer has died, it will freeze his/her account(s) while waiting for direction from the authorized court regarding payment to… …   Investment dictionary

  • Fernando de la Rúa — File:Fernando de la Rúa /con bastón y banda de presidente.jpg 51st President of Argentina In office December 10, 1999 – December 21, 2001 Vice President Carlos Álvarez (1999 2000) None (2000 2001) …   Wikipedia

  • Mukarram Jah — Barkat Ali Khan Mukkaram Jah Pretender Born October 6, 1933 (1933 10 06) (age …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”