Business Compliance
Preparing a bank-account reactivation file after a regulatory freeze
How to organise bank, departmental and corporate records before approaching the branch.
Identify the actual restriction
Dormant, debit-frozen, lien-marked and attachment-affected accounts require different responses. Obtain the bank's written description of the restriction and the issuing authority or reference number wherever available.
Branch submission file
- Account and branch details
- Latest corporate master data
- Board resolution or authority letter
- KYC documents of the entity and authorised representative
- Copies of attachment or departmental communications
- Destination active-account details, if a transfer is eventually permitted
- Acknowledged covering letter and visit record
Do not request closure prematurely
Where a legal hold exists, reactivation, transfer and closure may require separate steps. First establish the restriction, then obtain the required release or no-objection, and only thereafter seek transfer or closure.