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CalAttorney2, Attorney
Category: Business Law
Satisfied Customers: 10244
Experience:  I am a businesses law attorney, with experience advising and representing owners and investors.
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I was busy to go bank and do wire transfer and

Customer Question

I was busy to go bank and do wire transfer and brother-in-law was going overseas also his bank is not near by me, so I gave my brother for deposit my checks to his account from mobile, his bank account does not have option for deposit more that 2000 so he did deposit $2000 , 4 days continuously. Now bank freeze his account, when he called to the bank, he was told that they will call him back, it already passed 5 days. we don;t know what to do. But it was my money deposited in his account.
by the way his bank is in Chicago, IL.
Submitted: 1 year ago.
Category: Business Law
Expert:  CalAttorney2 replied 1 year ago.

Dear Customer,

I am sorry to learn of this matter. Your brother really needs to continue to follow up with his banking institution directly. They are entitled to place stops on bank accounts when there is unusual or potentially fraudulent activity (keep in mind, if there is in fact fraud, the bank can be held liable for the loss depending on the circumstances so they have an interest in monitoring these transactions).

Your brother has created a situation in which he is likely raising concern, but this may be something that can be resolved shortly - I do understand it has been 5 days - he can continue to call, but if he is unable to get a resolution, he can start writing letters as well (written correspondence generally is more likely to get a response one way or the other than a series of phone calls will).

Customer: replied 1 year ago.
I believe there is not fraud, because I gave him check to deposit. what is right of bank to freeze money, how long they will take to decide, do I need to ask my brother-in-law to go bank once he back?
Expert:  CalAttorney2 replied 1 year ago.

I did not say there was fraud. What I did say was that the course of conduct by your brother was probably unusual for his account (maximum daily deposits from his remote device) and that the bank has likely frozen his account pending an investigation to confirm that there is no fraud.

Customer: replied 1 year ago.
How long bank can keep like that? Is there any government rule for this? Is there any door when I can knock about this?
Expert:  CalAttorney2 replied 1 year ago.

You cannot do anything about this - it is your brother's bank, and your brother's account. He needs to deal with this. He can do so in writing, by phone, or by hiring a lawyer to represent him (probably unnecessary).

What we usually see is people that make a lot of phone calls but never actually write to document the issue. Emails, (or preferably, letters) can help to get the matter resolved because they eliminate confusion between parties and help clarify the issue.

As long as the bank is conducting a bona fide fraud investigation they are going to be permitted to take reasonable time to pursue the matter diligently (usually the cap is 21 days).