Account Hold

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Dictionary Says

Definition of 'Account Hold'

Deposits that are delayed before being credited to an account, such as deposited checks that are drawn on foreign or out-of-state banks. A hold can also be placed on an entire account if there has been a transaction that must be or has been reported to the authorities as a suspicious transaction under the anti-money laundering regulations, or if there is a suspicion or report of identity theft.

Investopedia Says

Investopedia explains 'Account Hold'

An account hold sometimes only refers to specific transactions in an account, but it may also refer to the entire account. It is different from freezing an account, which will happen in the case of the death of the account holder or if government action is pending.

An account hold can last for just a day or two, or for longer, depending on the reason for the hold.

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