Explore commonly used personal finance terms.
An account freeze is a restriction imposed by financial institutions or regulatory authorities, temporarily preventing any transactions within the account. Freezes may occur due to suspicious activity, regulatory compliance issues, or legal judgments. During an account freeze, account holders cannot withdraw, deposit, or transfer funds until the restriction is lifted. Account freezes protect against fraud or ensure regulatory compliance, but they can also impact cash flow and financial planning, making timely resolution critical.
