Bank account hold: What is worth knowing about this?

Are you wondering in what situations the money on your bank account may not be available to you? What is the account holdout? Do you want to know when it is possible to block a bank account, for example by the Tax Office or other institutions, such as blocking a bank account by GFI? You have no idea how long such a bank account lock can last? Let’s try to shed light on this issue today! Let’s check what the account lock means for you!

What does blocking the funds on the account mean?


Let’s start from the basics and explain to yourself: what is a blockage on the account? When can it be applied? What is the purpose of blocked funds on the account? Blocking money on your account means that you, as the account owner, do not have the option of using funds in the blocked amount. Please note that not only funds that are already present on a given account may be blocked, but also funds that will top up the account.

How long is the funds blocked on the account?


Well, we already know what a blockage on a bank account is, but there is another basic question: how much can the blocking of money on the account last in practice? You ask yourself: how long does your bank account lock? For example, if the funds were blocked at the request of the Tax Office, they should be “unblocked” after you have settled all financial obligations that were the reason for the blocking. However, the Tax Office must then submit the required document to the bank keeping the account on which the funds were blocked.

Blocking of funds on a bank account: what entities are authorized to do so?

Blocking of funds on a bank account: what entities are authorized to do so?

When is it possible to block funds accumulated on a bank account? Which entities can decide to block the funds on the bank account? First of all, the account is always blocked by the bank keeping the specific account, but ATTENTION: it can do so at the request of enforcement authorities authorized to do so. Blocking funds on the account can be imposed, for example, at the request of the Tax Office or the Social Insurance Institution.

When can a bank block funds on the account?

We explained to ourselves what is the blocking of funds on a bank account. It is worth noting that the bank may block funds in a specific amount if it receives an executive title from authorized bodies. Remember, however, that there are also situations in which a bank is entitled to block funds on a person’s account and can do it “on its own”.

What are non-class benefits?


When analyzing the issue of blocked funds on a bank account, one should not forget about another concept that is worth knowing – non-class benefits. As the name suggests, these types of benefits are not subject to attachment. These include, inter alia, maintenance payments.

What does blocking a bank account in practice mean? The bank may block funds on the bank account due to the bank receiving an enforceable title from authorized entities, but there are situations in which the bank may impose such a block “on its own”. By blocking funds on the account, the account owner will not be able to use the money in the blocked amount.