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.

Look at other dictionaries:

  • 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 — 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. 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

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  • 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

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