Excessive hold time | Bitcointalksearch.org

stomachgrowls

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Quote from: avikz on January 27, 2022, 11:24:10 AM

Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

It depends on the reason for which your bank blocked your fund. If it has been blocked due to some court order, you are on the mercy of the legal system of your country. But if it is just precautionary block, a legal notice from your lawyer should do the trick. So try to find out the reason for the block and your bank is legally liable to provide you the information. Once you have the reason in, prepare accordingly. Any precautionary block has a limited timeline that depends on your local law. If it has exceeded, the reason might be different and might not be joyful for you.

Everything would really be having that reason and its impossible that they would do such step or action if there are not valid reason behind that and its your right to know on what it is all about.

I do presume out that this is some in connected with crypto in terms of those funds which is tied up onto your bank account or something.If crypto regulations isnt clear

or doesnt have positive sentiment on your country then you would really be facing up these kind of issues which neither they would really be releasing those funds off
or would be locked for some time.

avikz

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

It depends on the reason for which your bank blocked your fund. If it has been blocked due to some court order, you are on the mercy of the legal system of your country. But if it is just precautionary block, a legal notice from your lawyer should do the trick. So try to find out the reason for the block and your bank is legally liable to provide you the information. Once you have the reason in, prepare accordingly. Any precautionary block has a limited timeline that depends on your local law. If it has exceeded, the reason might be different and might not be joyful for you.

Mpamaegbu

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Quote from: stompix on January 07, 2022, 03:37:22 PM

Quote from: hugeblack on January 07, 2022, 04:19:22 AM

~snipped~

Doubt it, OP dropped a question with no details and he's gone, logged out after the post time!

I doubt too if it's anything serious. OP registered on this forum on January 06, 2022 at 01:31:02 am. Made that post here around 10 minutes later and is now last seen on January 06, 2022, 01:43:50 am. The whole thing lasted 12 minutes. It's been close to three weeks from then and OP is nowhere to be found (at least with that user name). I guess they simply posted here so they could spam with an alt account to increase post count. No one should pay them any serious attention.

Findingnemo

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

Banks will hold your money forever too if you don't provide the source of income which happens to the accounts when they received funds from a hacked bank account via p2p trading platforms like Localbitcoin. But OP ran away after creating the thread make no one can answer because we actually don't know the query.

UmerIdrees

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

So the bank is not giving you the money and you think they are using it somewhere ? As per your statement, they need to get criminal clearance of your money. How much money did you deposit in the bank? If you come online, then do reply to all the queries asked here if you want sincere advice. Rest assured, if you did not do any money laundering or any illegal thing, bank will return your money, however it takes time for all these investigations.

Gozie51

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Quote from: stompix on January 07, 2022, 03:37:22 PM

That's it! If your account is frozen because of an active investigation then things really get complicated and it depends a lot on where you're situated, ranging from nothing to do to an application in court against the account freezing order issued on your ban account.

I think in the case of investigation on his account, Op may not be able to do anything about that in application to court. The bank has a right to investigate flagged bank account and the court may be aware or provision would be made for the court to be aware because it is a legal process in the first place either the bank abinitio may have obtained fiat or permit to investigate the account. I think Op case may be that of delayed issue from either through cheque verification or related issue.

stompix

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Quote from: hugeblack on January 07, 2022, 04:19:22 AM

Can someone tell me what the user is trying to say? I have not heard of the hypothesis of holding money in the bank for 21 days.

Doubt it, OP dropped a question with no details and he's gone, logged out after the post time!

Quote from: hugeblack on January 07, 2022, 04:19:22 AM

The maximum period in which the bank can seize your money here is 3 working days.
If there is a financial problem, the time extends to a week or two as a maximum, unless there is a court ruling or a decision from the police or the financial department.

It's not even that long in some cases, they aren't supposed to freeze funds even for a second if those are transfers initiated from clients of the same bank or for personal accounts that have a net positive balance, so no payment refund in the last 90 days could trigger a negative balance.

But I really don't know what's OP problem is. My bet would be on a transfer he has made from maybe some exchange to his bank account and the transfer has not cleared yet if he has waited for 21 days already and hasn't contacted his bank already....why wouldn't he do so?

Anyhow, in case OP ever reads this, contact your financial Ombusdan, that's first, the easiest method to clear things up, they will have to contact both your bank and your sender on this and are required by law to give you an answer. That's it! If your account is frozen because of an active investigation then things really get complicated and it depends a lot on where you're situated, ranging from nothing to do to an application in court against the account freezing order issued on your ban account.

hugeblack

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money

Can someone tell me what the user is trying to say? I have not heard of the hypothesis of holding money in the bank for 21 days.

The maximum period in which the bank can seize your money here is 3 working days.

If there is a financial problem, the time extends to a week or two as a maximum, unless there is a court ruling or a decision from the police or the financial department.

In general, if the matter is related to the inside of the bank, it is difficult to prove, but if it is between the banks, it is very easy.

Gozie51

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

Haha maybe the maturity date has not expire, if it elapse your money should be released to you and you won't have a need to file against anybody Grin

There is the fixed deposit account. This account holds your money for specific time that you agree and signed with the bank and they don't issue the money out until the time elasped.

Banks have policy that they hold between themselves and for customers. It is like a role for the way to be guided in the business of serving their customers, so as a role they will follow what they have in the books as rules and regulations.

Yaunfitda

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

And where you are going to file your grievances against a certain bank? I think you are going to lose very easily because that is their policy though? And that is really the worst case here, banks hostage your money for 21 days. And this is the very reason why many people are really moving into crypto because of the "Be your own bank" nature of it. So I guess your only choice is to wait for 3 weeks and borrow someone money with interest.

YOSHIE

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Quote from: Lee Brown on January 05, 2022, 09:43:50 PM

I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

If you use money in the bank or borrow money from someone, the reason you trade or invest in crypto within a three day period, yes it is an illegal act which according to the laws of banks and lending organizations, the money you are asking for is not eligible to be disbursed, violating the provisions of the loan law and Banks.

Should, you file a complaint to get money under the laws they apply with reasonable reasons and according to the procedures they apply.

There are not many languages that can be understood from your topic, other than loan complaints and applicable laws.

Poker Player

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Can you specify more about what you are talking about? It may be something specific to your jurisdiction but if you don't specify we don't know. It sounds to me like you have received an international or exchange transfer and it has been held for money laundering prevention.

Please specify the details of the case to see if we can help you.

Lee Brown

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Do you just have to file a grievance with the bank to get your money back out of these guys? I understand they want to hold the money until it clears the bank, but then 21 days of no access to your money after it clears seems criminal and apparently it is according the the bank. I'd like to hold and use someone's money for 3 weeks too, I guess thats why it is illegal.

Topic: Excessive hold time (Read 195 times)