It can also refer to accounts that are frozen, either by the U.S. government for political reasons, or for other reasons (such as death of the account holder.)
A blocked account is typically more serious than a frozen account, and the implication of the term is that it is longer term in nature. Once an account in the U.S. is blocked by government mandate (such as during a time of war or distress), no funds in the account can be accessed without a specific release from the U.S. Treasury.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
blocked account — ➔ account1 … Financial and business terms
blocked account — An account where monies cannot be withdrawn without the lender s specific consent. This may be achieved by the account being in the borrower s name with the lender as sole signatory for withdrawals. Practical Law Dictionary. Glossary of UK, US… … Law dictionary
blocked account — A bank account from which money cannot be withdrawn for any of a number of reasons, the most likely being that the affairs of the holder of the account are in the hands of a receiver owing to bankruptcy, or liquidation in the case of a company. A … Big dictionary of business and management
blocked account — bank account which if forbidden to use … English contemporary dictionary
blocked account — /blɒkt ə kaυnt/ noun a bank account which cannot be used, usually because a government has forbidden its use … Dictionary of banking and finance
blocked account — Fin a bank account from which funds cannot be withdrawn for any of a number of reasons, for example, bankruptcy proceedings, liquidation of a company, or government order when freezing foreign assets … The ultimate business dictionary
blocked account — Governmental restrictions on a bank account; usually with reference to transfers to foreign countries … Black's law dictionary
blocked — [blɒkt ǁ blɑːkt] adjective money that is blocked cannot be taken out of the country or changed into another currency: • The company managed to find a loophole to unblock its blocked money. • The funds are in blocked deposits at the Bank of New… … Financial and business terms
account — a record of a business transaction. When you buy something on credit, the company you are dealing with sets up an account . This means it sets up a record of what you buy and what you pay. You will do the same thing with any customers to whom you … Financial and business terms
account — A detailed statement of the mutual demands in the nature of debit and credit between parties, arising out of contracts or some fiduciary relation. A statement in writing, of debits and credits, or of receipts and payments; a list of items of… … Black's law dictionary