A Bank Customer Now Reports Frozen Money Won’t Be Available

February 14, 2024

A bank customer now reports his frozen money won’t be available for years after representatives stated it may take up to 30 years.

The customer had no idea what to do after their account was frozen with no warning, reports The-Sun.

Going by the name Heyron, the man made a post on Reddit to explain the situation and seek advice.

He said that at the end of 2023, he decided to move his business’s checking account to Intuit.

When he was setting up the account, he funded it with money from another checking account he had and added some “third-party” money services.

“Without notice, my account was frozen and representatives on the phone quite literally told me it could be 5 years, 10 years, even 30 years!” he wrote.

During another call, he was told he might have to submit paperwork to the state to claim the funds if they get released to the government.

“It’s my guess is that my account was flagged by some automated AML (Anti Money Laundering) system,” he wrote.

He filed a complaint with the local Attorney General, but there wasn’t much else he could do.

In the replies, one person wrote: “So, they’re turning it over to the government?

Call center reps say some bizarre things.

Don’t rely on that alone.

If they really aren’t issuing your company a check, that’s a very bad sign and unusual.”

“While it’s understandable to be upset at Intuit, this could be a warning that your other accounts, possibly including personal, are at risk, but have stayed under the radar.

Banks have dialed up compliance in recent years along with stricter, less flexible policies.”

Ultimately, Heyron ended up switching to Chase.

Also Read: A US Bank is Now Denying Customers Access to Money

Other Banking News Today

This massive bank is now closing accounts and credit cards in an abrupt manner and without warning, sources report.

While many would hope for a seamless banking process, one Fifth Third Bank member was barred off from their money, reports The-Sun.

The person who remained anonymous vented their fury on a Reddit thread dedicated to personal finance.

It all started when they made the choice to help out a “friend,” the user said.

He would often ask the user to borrow $100.

In return for the user giving money, he would then send $150 to them through Zelle.

The user explained how their Zelle was linked to their Fifth Third Bank mobile banking app.

And while the profit seemed attractive at first, it didn’t hold up for much longer.

What happened next left the Redditor confused, worried, and skeptical of their so-called “friendship,” reports The-Sun.

They realized they were betrayed when their friend disputed each transaction as a way to steal all the money back.

“As a result of him doing this, I tried using my debit card and logging into my banking app, and it said my account was locked” they said.

After calling Third Fifth Bank’s customer service, the user discovered their account was closed due to “so many transactions.”

The bank viewed them as fraud and decided not to do business with them anymore.

“They said I will be able to go into any local branch during operation hours and withdrawal all of my funds that are inside of the now closed account,” they wrote.

But the user was still worried, especially since they had $9,000 locked up in the account.

“Will they hold true to their word? Will they actually let me withdrawal all of my funds?”

Users replied to the Redditor saying they should be able to get the money back since the bank chose to close the customer’s account.

“You will get your money, but it may take a long time,” one person commented.

The bank had closed the users account and credit cards without warning despite the customer being scammed.

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Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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