Skip to content

Funds On Hold (Levies/Garnishments)

Answered by: 

When a bank receives levies/garnishments, can the bank put the funds that are on hold into another account to wait out the number of days noted on the notice? Or do the held funds have to remain in the account that it is coming from for the number of days noted in the notice?

The answer to your question should be found in the law or regulation under which the garnishment or levy was issued. Given the differences between the laws of the states, I recommend that you review the procedural requirements with bank counsel familiar with the laws of your state.

First published on 11/08/2015

Filed under: 
Filed under operations 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