I have a block on my account and owe my bank money for overdrafts that I'm disputing. I was told by a branch manager that while a block is on the account no money can go in or out. First, is that true, and secondly I have a direct deposit on that account. I tried to have it stopped, but due to some slowness on my employer's end it's going to be sent to that account. Will my money be returned to my employer's bank or will they allow it through to recover the disputed money? Are they allowed to unblock the account for this deposit and could they possibly leave it unblocked to allow items for which I have stop payments?
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The answer to your first two questions really depends on the bank's procedures. The block could apply only to checks, or to checks and deposits (except electronic items via the automated clearinghouse) or all transactions. For details, you'll have to talk to the bank's representative. Any stop payment orders that you issued should not be affected by the bank's blocking or unblocking of the account.
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The answer to your first two questions really depends on the bank's procedures. The block could apply only to checks, or to checks and deposits (except electronic items via the automated clearinghouse) or all transactions. For details, you'll have to talk to the bank's representative. Any stop payment orders that you issued should not be affected by the bank's blocking or unblocking of the account.
