Blocked Accounts
Securely segregated funds
Safeguard client funds with our blocked account service, ensuring compliance and transparency in fund management.
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Features
Protection, compliance, clarity
Segregation of funds
Maintain clear separation between client funds and your operational funds, safeguarding client money and meeting regulatory requirements.
Audit-ready reporting
Easily generate reports for regulatory audits or to provide transparency to clients, ensuring all funds are accounted for and managed correctly.
Roles & permissions
Set permissions to control who can view or move funds, adding security and ensuring only authorized personnel manage these accounts.
Use Cases
Blocked accounts
Manage escrow accounts, trust funds, or client money with high security and compliance.
Ideal for industries like construction or law, where project or client funds need to be held securely until certain conditions are met.
While not for everyday personal banking, these accounts can be crucial in scenarios like real estate purchases where escrow is needed.
Use to hold funds in escrow for transactions, ensuring buyer and seller security until goods or services are delivered to satisfaction.
Frequently asked questions
A Blocked Account is a secure account that segregates client funds from operational funds, ensuring compliance with regulatory requirements and providing transparency in fund management.
A Blocked Account can be open by businesses, financial institutions, and other regulated entities that need to safeguard client funds, manage escrow agreements, or comply with legal requirements.
- Regulatory compliance: ensures proper segregation of funds to meet industry standards.
- Enhanced security: protects client deposits and prevents unauthorized access.
- Audit-ready reporting: provides detailed transaction records for regulatory and client transparency.
- Controlled access: roles and permissions allow only authorized personnel to manage funds.
Funds are securely held and segregated from operational accounts. Access can be controlled through user permissions, ensuring only authorized individuals can view or manage the funds.
Funds can only be moved under predefined conditions agreed upon at account setup. Specific permissions are granted to authorized personnel for any transactions.
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