Can we place a hold on a customer's account that is requested by the customer? This has nothing to do with a loan or REG CC. The customer has just asked us to place a hold on their account for a certain amount for 6 months. Can we do this and what kind of authorization should we get signed? I am assuming if a joint account all parties would have to sign.

Are they trying to avoid paying for a stop payment?

What do you mean by hold on their account? Will they be on vacation? It's a bank not a post office.

Have them open a 6 month CD.

What if they have direct deposit?

I guess you can just restrict their account versus putting a hold.

I don't think it matters what you call it. If you have restricted the availability of funds, it's a hold. Let them place the certain amount they want held in a CD as Randy suggested.