Is it serious if the bank card for foreign trade payment is frozen for half a year? How long will it take for it to be automatically unfrozen?

One of the risks of doing foreign trade is that you may become a money laundering accomplice of criminals without knowing it, which may lead to your bank card being frozen. Is it serious if your bank card for foreign trade payment is frozen for half a year?

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1. How long does it take for a foreign trade bank card to be automatically unfrozen after being frozen?

The time it takes to unfreeze your bank card depends on the reason why it was frozen. In addition, different unfreezing methods require different time periods. If your bank card is frozen because you have entered your password too many times, you can go to the bank counter with your personal ID card and bank card to unfreeze it, and it can be unfrozen successfully almost immediately.

If you need to apply for unfreezing, you can call the national unified hotline of the bank to unfreeze it. After the review is no problem, the unfreezing period will be within 7 days; if you are frozen by the court or its government agency due to financial problems, you need to submit a result sheet to the bank that the matter has been handled, but the time of unfreezing depends on the actual handling of the bank. The period for freezing deposits, remittances and other properties is six months.

The freezing period for securities such as bonds, stocks, and fund shares is two years. If there are special reasons for extending the period, the public security organ shall go through the procedures for continuing the freezing before the expiration of the freezing period. The maximum period for each extension of freezing of deposits, remittances and other properties shall not exceed six months; the maximum period for each extension of freezing of securities such as bonds, stocks, and fund shares shall not exceed two years.

2. What are the high-risk situations in which a foreign trader’s bank account is frozen?

1. Engage in the business of collecting, paying and transferring money on behalf of others;

2. Lending bank accounts;

3. Buying and selling foreign exchange privately without going through bank settlement;

4. Receive transfers from unknown third parties.

It is absolutely prohibited to engage in the business of collecting, paying and transferring money on behalf of others, which may lead to the suspected criminal offenses such as "assisting in fraud". These criminal gangs often transfer money through illegal currency exchange institutions and "underground banks" through normal commodity transactions at home and abroad, mixing illegal funds with them, resulting in the freezing of normal payments received by innocent "foreign trade people" in China, and even affecting the inability to use their accounts.

Generally speaking, it is serious if the bank card for foreign trade payment is frozen for half a year. Because under normal circumstances, the frozen bank card will be automatically unfrozen after 6 months. If it is fast, it will only take a few days.