Account frozen or closed: what to do

Have this ready

• notices
• balance at closure
• account agreement

Steps for any company

1. Ask in writing for the reason, when the funds will be released and how.

2. Complain to the CFPB if the funds are not released.

A company playbook below replaces these generic steps with the company’s own forms, phone numbers and deadlines.

Company playbooks (16)

Banks and credit card issuers

• Bank of AmericaRestricted funds are not available until the restriction ends; if the bank closes the account it returns the balance by one of the listed methods.
• ChaseChase may restrict an account or hold funds pending investigation, and may close it at any time; ask what is needed to release the funds.
• ChimeChime and its partner bank can freeze or close an account without notice; ask in writing what they need and when the balance will be returned.
• CitiCiti may freeze an account in a dispute or suspected fraud, and may close it at any time; ask what proof releases the funds.
• CurrentCurrent can restrict or close an account and hold funds until activity is verified; ask in writing what it needs.
• Wells FargoWells Fargo may freeze funds when it suspects questionable activity, until its concerns are resolved, a legal time limit passes, or a court orders otherwise.

Brokerages and crypto platforms

• CoinbaseAsk in writing why the account is restricted; Coinbase says restriction reviews typically take up to 10 business days.
• KrakenAnswer document requests by email quickly; scam-prevention restrictions last 90 days.
• RobinhoodRobinhood may restrict deposits, withdrawals or trading at its discretion; ask in writing for the reason and what it needs.

Credit unions

• State Employees' Credit Union (SECU, North Carolina)SECU may hold funds without notice when it suspects fraud or a dispute over the account; ask through a secure message what it needs to release them.

Payment apps and money transfer

• Cash AppAsk Support in writing why the account is restricted and when funds will be released; escalate to the CFPB.
• Google Pay and Google WalletUse Google Pay Help (signed in) for a suspended account; ask Google Payment Corp. in writing for held balance funds.
• PayPalFind the limitation steps in the Resolution Center, upload only what PayPal asks for, then wait for the review.
• VenmoAsk Venmo Support in writing why money is held and when it will be released; holds can last up to 180 days.
• Western UnionA transfer on hold usually waits for identity or detail checks. Call with the tracking number.
• WiseWise can hold balances and close accounts without giving the reason. Appeal or request a refund through the appeals page.

Guides

• Banks and card issuers — how complaints work
• Credit unions — how complaints work
• Payment apps and money transfer services — how complaints work
• Brokerages and crypto platforms — how complaints work