How Long Does It Take To Unfreeze A Bank Account

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This is a question pondering to most bank users, asking how long it will take to Unfreeze a bank account that has been frozen.

Before understanding the timeframe it will take the bank to unfreeze a bank account, it is important to determine the cause of a bank freezing an account.

 

Sometimes, bank users purposefully freeze their accounts, probably to block any form of money out in their bank account balance.

In other cases, bank accounts are frozen, when the bank suspects illegal activity or probably has unpaid debts through the creditor.

If you are wondering how long it takes to Unfreeze a bank account, then you are in the right article.

 

What is a Frozen Account?

 

Frozen Accounts are occurring term in a banking fashion. Banks are the ones that freeze a bank account. Sometimes, banks are ordered to freeze an account by a government-regulated body, mostly crime related.

 

Once a bank account is frozen, you won’t be able to have access to the funds in the account, although money can be sent to the account, but can’t be withdrawn or transferred to other accounts.

You will still be able to keep track of money deposited to your account, but any money outlets are blocked.

 

How Long Does It Take To Unfreeze A Bank Account?

 

Knowing how long it will take to Unfreeze a bank account depends on who froze the account at first.

In a situation where the bank user had frozen his or her bank account, then, such users have the right to unfreeze the bank account anytime he or she wants.

 

All it requires is to provide a verification of your identity that you are truly the one who owns the account, and in a couple of 3 – 4 business days, you should get your bank account back to normal.

However, in cases where a bank account was frozen by the government, then the user has no right to request an unfreeze of the bank account.

 

The Bank therefore will have to engage in an investigation regarding the issue that had led the government to direct the bank to freeze accounts.

The fate of the account will be revealed after the investigation, if the bank account owner is cleared, then the account will be unfrozen and made accessible to the owner.

 

How Long Does It Take for A Bank to Unfreeze an Account?

 

Banks normally take about 3 working days to unfreeze an account and make all its features available to the owner.

However, before unfreezing an account your identity needs to be verified by the bank, to be sure that you are the owner of the account, and the one authorizing this.

Once you can verify your identity, you will be guided on the process of how to Unfreeze a bank account.

 

How Do You Unfreeze a Frozen Bank Account?

 

Banks are the ones who unfreeze an account if you have frozen your bank account for some reason. To unfreeze it, you will have to consider contacting your bank or rather visiting your bank.

Therefore, you will have to make an account reactivation request by filling the form in the bank, this process isn’t difficult as you may think.

 

How Long Is a Bank Allowed to Freeze Your Account?

 

Depending on how long the issues span, once a bank account is suspicious of illegal activities, your bank account will be frozen till further notice.

The banks will therefore have to investigate the transactions Carried out in the bank account. How long the account will be frozen, depends on how long the investigation will take.

 

Can I Go to The Bank to Unfreeze My Account?

 

To unfreeze your bank account, you will have to visit your local Bank, they are the only ones in a position to unfreeze a frozen bank account.

However, if you have frozen your bank account earlier, you have to provide an identity verification to the bank to be sure that you are the one authorizing the unfreezing of your bank account.

 

Video Guide

 

 

 

 

Conclusion

 

There are several reasons why banks freeze a particular bank account, therefore, knowing how long it will take to unfreeze a bank account, depends largely on who authorized the freezing of the account.

In summary, to unfreeze your bank account, you will have to visit your bank and provide the necessary information to verify your identity.

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