Definitions for "FROZEN ACCOUNT"
A special cash account in which a customer sells a security he had purchased but not paid for, and then either: (1) fails to pay by the fifth business day after the transaction; or (2) withdraws any portion of the proceeds before payment for the purchase. Full payment is required before any further purchase executions for ninety days there after.
A brokerage account that requires cash in advance for a period of 90 days in order to trade triggered by a failure to make timely or complete payments.
bank account whose funds may not be withdrawn until a lien is satisfied or an ownership dispute is resolved.