How to avoid the blocking of a bank account and how to solve it?

How to avoid the blocking of a bank account

Has your bank account been blocked and you don’t know why? We bring you a complete guide so that you know the origin that can cause a blockage of your bank account in order to prevent it, as well as some tips so that you can reactivate it. Regardless of the bank you are, these tips will help you have a bad time and help you have your bank account as before. Do not lose sight of what we are going to tell you next!

Reasons why my bank can block my bank account

Yes, your bank can block your bank account as well as the operations with it if it sees any suspicious movement that alerts what it puts in its contracts. For this reason, we will investigate what could be the origin of said block in order to avoid it. They can block our bank account for 4 main reasons:

1. Death of the holder

This is one of the most common reasons when a bank account is blocked. If the holder of the card is recorded as deceased, the total balance of the bank account of said holder will be blocked.

In the event that the bank account has more than one owner, the corresponding proportional part of the balance will be blocked. For example: if there are two holders, 50% of the account balance is blocked; if there are three holders, 33.3% of the account balance is blocked…

2. Lack of identification documentation

According to the Law on Money Laundering and Financing of Terrorism, banking entities are obliged to keep their clients’ documentation up to date. For this reason, the bank with just cause can block our bank account if our ID is not up to date (we have not renewed it or we have changed our identifier).

However, it is not something that can be done without prior notice, since the bank should notify us by means of a notification in order to solve it in time. Faced with this problem, many entities make it possible for their users to send said updated information through an email, the bank’s app or at the teller window through a bank branch.

3. Discrepancies between headlines

The issuance of conflicting orders between one or more holders of a bank account may lead to the bank detecting it as suspicious and blocking the bank account temporarily. This is the case, for example, when a marriage breaks up and both parties want to take part in said account.

4. Anti-fraud measure

Finally, the bank can request information about the economic activities that we are carrying out and that deposits the money in our bank account. This prevents fraud from occurring according to money laundering laws.

Irregular movements, large amounts of money deposited, changes in ownership or questionable legality of the origin of the money can lead to a blocking of the bank account.

Tips for unlocking a bank account

We detail the best tips to unlock a bank account if any of the reasons described above have happened to you:

  • Update the personal information we have. These can be the DNI, NIE or document proving who we are.
  • Provide information about our activities. The economic activities we do matter to the bank. If you require it, we will have to provide a document that proves those last economic activities that we have carried out.
  • Accreditation of work activity. Sometimes, the bank will require information on our payroll, employment contracts, personal income tax returns and others. Providing this information could cause us to unblock the bank account.
  • Unlock on death. In this case, we must provide the documentation that the bank requests, so we recommend that we go to the bank in person or manage it from its app.
  • Open another backup bank account. In case it could happen, we recommend opening another bank account in another bank, which would prevent us from running out of money in the time that we solve the blocking of the other account.

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