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Sample Letter Telling Assets Have Been Frozen

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Question: 
Do you have any kind of sample letter sent to members informing them that their assets have been frozen?
Answer: 

We do not maintain a stock of sample letters, policies, or procedures.

Deposits can be frozen temporarily or permanently under a variety of circumstances and the content of the notice sent to the depositor may be directed by the third party claiming the funds; e.g. the wording for an IRS levy vs. state garnishment order would not be the same. Generally, you should send a copy of what you received from the party directing your actions with a cover letter that simply tells the customer what you did in response to that instruction.

First published on BankersOnline.com 2/18/13

First published on 02/18/2013

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