frozen account
Definition
Bank account from which no funds may be withdrawn because of a legal ruling or process. A deceased customer's account is automatically frozen until its legal beneficiary or a heir is appointed, declared, or found. A forfeiture order by a court can also freeze an account.
Popular 'Accounting & Auditing' Terms
frozen account in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/frozen-account.html
