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Account on Restricted Status-When to Remove

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Question: 
When a customer notifies us of a potential fraudulent activities on their account, we place the account on a "restricted" status (any debits trying to hit will reject and ha​ve​ to be worked manually) for a maximum of 90 days. Is it safe to remove the restricted status if no fraudulent activities occur? What would be the best way to handle day 91? ​
Answer: 

Why in the world would you just not close the account and open a new one? What are you charging this customer to monitor the account for 90 days? What you are doing is a losing proposition for the bank.

First published on 12/12/2015

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