How long can a bank hold your money?

[Kolleio]

If a bank or EMI holds your money, and requests documents - and if you can't provide them, what will usually happen?
The bank eitherway holds your money and/or closes your account.

BUT:

- How long can a bank legally hold your money?
- Can the bank hold your money for ever?

 

[JohnnyDoe]

If a bank or EMI holds your money, and requests documents - and if you can't provide them, what will usually happen?
The bank eitherway holds your money and/or closes your account.

BUT:

- How long can a bank legally hold your money?
- Can the bank hold your money for ever?

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.

 

[Sols]

If a bank or EMI holds your money, and requests documents - and if you can't provide them, what will usually happen?
The bank eitherway holds your money and/or closes your account.

It depends on when and why they ask. If it's for an incoming transaction, they will usually just return the funds.

- How long can a bank legally hold your money?

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.

- Can the bank hold your money for ever?

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).

 

[Martin Everson]

- How long can a bank legally hold your money?

Read the terms and conditions you signed up to when you opened the account.

- Can the bank hold your money for ever?

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.

 

[JackAlabama]

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.

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.

 

[icecold]

Crypto is the only solution indeed for a digital economy.

I 100% agree with you here.