Account blocking: wrong PIN and foreclosures: when the bank can block the account | news

What are the consequences of an account suspension?

An account can be blocked by the bank for a variety of reasons, as a result of which the account holder is denied access to their account. The money is still in the account but it is frozen. As a result, the cardholder cannot withdraw funds, transact or add funds. Account blocking can mean that debts can no longer be paid and rent is not paid, as standing orders are also stopped – this can have serious consequences for account holders. So when does the bank have the right to block the account?

Repeated entry of incorrect PIN

To protect the account, the bank can block online banking or a current account if the PIN has been entered incorrectly several times, writes “”. In this case, the bank decides to block the account for security reasons, as a wrong PIN entry could indicate a crime in which a stranger is trying to access the account.

Unauthorized discovery or non-payment of installments

Unauthorized and too frequent or excessive overdrafts of the account can lead to the blocking of the account by the bank. This happens when an account holder with an overdraft structure exceeds the approved overdraft limit or his account slips into the red, although this is not contractually permitted. Since an overdraft can indicate an uncertain financial situation, the bank can block the account as a precaution.

If a person has also taken out a loan from a bank and does not pay the consequent repayment installments, the bank is also authorized to block the account.

Big transactions, crime and one death

The bank is also authorized to block the account in case of suspicious transactions or crimes. Large transactions are unusual account movements, such as withdrawing or transferring very large amounts.

The account can be blocked even if the account holder is suspected of having committed a crime such as money laundering. The money in the account could then be frozen immediately.

The same is true in the event of death. If the deceased had a joint account and did not make arrangements to manage the account after the death of the deceased, the account will be temporarily blocked. The heirs are then allowed to unlock the account again.

Account lockout during account seizure

Those who fail to fulfill their obligations and pay bills or debts must expect an enforceable title to confiscate an account pending foreclosure. To this end, the account is blocked by a seizure order, which prohibits banks from continuing to pay money to the debtor. The account is pledged and the money is transferred to the creditor to pay the debt. However, an account lien requires a court order and therefore is not that easy to enforce.

According to “”, anyone who wants to protect their income from possible foreclosure can create a foreclosure account, also known as a P account, or convert their existing account into a P account. This makes particular sense if the account holder is aware of the impending kidnapping. Since a foreclosure is usually preceded by reminders, the debtor knows in advance what to expect. In the event of seizure, a basic monthly allowance of € 1,133.80 is estimated on account P. This money can still be used to make a living.

The block by the Revenue Agency

The tax office can also arrange for the account to be pledged and the account blocked accordingly. If a taxpayer has a tax debt and fails to pay it, the account will be blocked similar to the foreclosure procedure described above. In this case, however, no judicial enforcement order is required, but the tax office can execute the foreclosure itself as the authority. The debtor receives the reminder in advance, in this case in the form of a notice of fulfillment. In addition, the tax office can impose excess taxes for taxes that are not paid or paid too late. editorial staff

Image sources: Bjoern Wylezich /

About the author


Leave a Comment