How long can a bank hold your money?
- Thread starter Kolleio
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30 days they say. Unless a bank does otherwise. So you need to obtain a court order, but even then the bank could resist and drag you into litigation.
A Swiss bank once told me that they “don't care” about what the prosecutor says, they will not give me access to the account.
Crypto is the only solution.
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It depends on when and why they ask. If it's for an incoming transaction, they will usually just return the funds.
There is no legal limit. But regulators try to impose restrictions of 30, 60, or 90 days. These maximums can easily be extended as long as the financial institution can provide cause.
Yes, for example if you send or receive money from/to a sanctioned person or company.
It's not technically forever. It's indefinitely, until a regulator tells them what to do with the money (return to source, release to account holder, transfer to government as seized funds, or other action).
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This is the probably the answer to your question.
Read the terms and conditions you signed up to when you opened the account.
Iran has had money frozen in some western banks since the 1979 Islamic revolution. Does that meet your definition of forever? Close enough for me in real world.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
That bank was correct. It does and will happen more often than one would commonly think.
Crypto is the only solution indeed for a digital economy.
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