Legal Question in Banking Law in Wisconsin
Can a bank with hold your money even thou you owe the bank nothing and can they refuse to give your money to you without no reason?
1 Answer from Attorneys
Probably not, although my guess is that the bank does have a reason for holding the funds due to right which you probably gave them when you opened your account. These can include funds availability rules (making sure that your deposit check has cleared) or holding funds due to collector activity (i.e. garnishments or tax levies) or other legal process, or other contractual rights, particularly for business accounts. If no explanation is forthcoming, you should immediately consult with a lawyer to explore your options. My comments in this online forum are offered for public educational purposes only and are not legal advice, nor do they create any attorney/client relationship between us. Even if I were advising you, the background information which you provided did not include sufficient detail to allow any sort of reliable advice upon which you should rely. Finally, I may be able to represent you if you contact my Racine office and make arrangements formally retain me. I represent clients throughout the state of WI.
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