+ Reply to Thread
Results 1 to 10 of 10
  1. #1
    Micro Guest

    Frozen Bank Account due to Huge amount of money being deposited.

    What is the name of your state? FLorida

    I was wondering how we can retrieve that money from that bank that froze my niece's bank account for making huge deposits a few months back.
    How can we fight this. (i know that she owns a business in Europe incase they want proof where she got the $$ from) Any legal advise/input would be nice.
  2. #2
    bigun is offline Senior Member
    Join Date
    May 2001
    Posts
    7,135
    No one has an account frozen for making huge deposits. I would suspect it is frozen due to a court order of some sort. Have a lawyer contact the bank and find out the real reason.
  3. #3
    MSWCCC Guest
    Something tipped the bank off to fraud or crime or comething. Even if false. Contact a lawyer or have her go down in person and speak with a manager.
  4. #4
    nailtech is offline Senior Member
    Join Date
    Dec 2001
    Location
    TX
    Posts
    1,090
    I had always heard any deposit made over 10K the bank had to report the deposit to the government.... it could be the government that has froze the account due to 9-11...
  5. #5
    dncr is offline Member
    Join Date
    Mar 2002
    Posts
    135
    Is the whole account truly frozen, or did they just put the funds on hold? There's a big difference and people often confuse the two.
  6. #6
    Micro Guest

    I think it is frozen.

    Why? because she cant even get a penny back thats why.. What do you folks think. Frozen or on hold?
    -->
    The bank wants to know where & how she got it... I know for sure she brought it from Europe... & Yes indeed its more than 30k cash... I know its not illegal money.. She has 2 restaurants running back in europe . I guess she will need to prove that... &/or translate all the legal documents... If they still giving us problems. Then ill contact the lawyer that i have in mind .. & let him take care of it. As you can see the account is not on my name (if it was it would have been alot different & easier) but since shes a foreigner its different i guess..
    btw.. Do the banks really have the right to ask where & how she got that amount of $$? Thanks for the replies folks I surely appreciate that alot. <---
  7. #7
    dncr is offline Member
    Join Date
    Mar 2002
    Posts
    135
    Ok, let me clarify...was the account already established with funds that WEREN'T on hold, then the bank froze the entire account, including the previous money, when she made these large deposits? Or did they only freeze the large deposits? Did she open the account with these large deposits?

    They're probably just being extra careful because of 9-11, as someone mentioned. Once your daughter proves that it's from her business, it shouldn't be a problem.
  8. #8
    Micro Guest

    Yes account was opened with those deposits

    The first deposits was in the amount of about 9k. then she did 3 more deposits on it. Exceeded more than 35k to my knowledge Thats all I know so far..

  9. #9
    justathought Guest
    Maybe they think it's fishy because of being 9k but multiples over 35k? Any single transaction over 10k must be reported to the government and if she's doing multiple transactions that are just squeaking out of the requirement, perhaps they think she's being evasive and therefore suspect in some way. Almost less suspect if she did it all at once with supporting documentation?
  10. #10
    dncr is offline Member
    Join Date
    Mar 2002
    Posts
    135
    Well Micro, it is required that they report all transactions over $10k or anything else that seems suspicious. Since 9-11, the government's gonig to be looking at everything that smells bad, let alone darn right suspicious, and this is a foreigner putting significant sums of money in a bank account. It is an industry standard to place large checks on hold...if it's a cashier's check, it would be up to the individual bank, but they might still hold it for a certain period of time (usually 7-10 days, probably more if the issuing bank is oversees). However, if it's been "a few months", surely they have some explanation? If they want proof of where it's coming from so they know she's not a terrorist, has she given it to them?

Similar Threads

  1. Sister took huge amount of money from mom, and she already has money
    By krouse in forum Other Real Estate Law Questions
    Replies: 1
    Last Post: 11-22-2010, 10:48 PM
  2. Bank deposited my business checks into wrong account
    By 1975lovinglife in forum Open Technical Issues and Requests (No Legal Questions)
    Replies: 1
    Last Post: 05-03-2009, 01:23 PM
  3. Bank deposited substantial funds into my account in error
    By ease2002 in forum Brokers & Investments
    Replies: 5
    Last Post: 01-21-2006, 08:36 PM
  4. Replies: 4
    Last Post: 03-12-2004, 10:02 PM
  5. Bank Mistakenly Deposited Money
    By cwong in forum Brokers & Investments
    Replies: 8
    Last Post: 12-16-2003, 10:50 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

© 1995-2012 Advice Company, All Rights Reserved

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our Disclaimer and Terms & Conditions Of Use.