Skip to content

Account on Restricted Status-When to Remove

Answered by: 

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? ​

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

Filed under: 
Filed under operations as: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics