So as a Zenith bank customer, you need to make urgent payments for a very important transaction. You try to perform the transaction through your phone app and USSD, but both turned out to be unsuccessful. You decide to use an ATM close by to do the transaction and behold, what is displayed on the ATM screen is “restricted”.
Trust me, I know it how frustrating you could feel, so if that is the issue you are currently facing with your zenith bank account, good news; it can be resolved but before we discover how that is possible, here are some reasons why your zenith bank account is restricted.
Causes of the restrictions placed on Your Zenith Bank Account
When your zenith bank account is restricted, it simply means that you won’t be able to perform any financial transaction of any kind until the issue is resolved with the bank. A restricted account may limit or inhibit you from taking out funds. It may even limit the number of deposits you can make and the checks you can write. In some cases, an account holder can place restrictions on his own account. Banks take this measure to protect you from fraud or prevent you from performing fraudulent activities.
Please note that Zenith bank allows customers to make transactions freely, however, the bank and government organizations have the authority to place restrictions on bank accounts. The restriction imposed may also be for a specific amount or entire amount for a limited period or unlimited period and specific guidelines to be followed will be issued.
There could be a million and one reasons as to why your zenith bank account has been restricted. Below, I have listed for you various reasons why you would be probably experiencing such a predicament. Here’s why;
Making unusual and unregulated purchases
An unusual purchase of a product raises a red flag with your zenith bank account making them take the action of restricting it.
When emptying your Bank Account seems suspicious
An attempt to empty your bank account (especially one containing a huge sum of money) at an ATM may raise suspicion causing a restriction on your account.
Wrong Bank Details
In some cases, if it is discovered that a customer filled in a wrong or conflicting detail when applying to open the account, the bank may want to place a restriction on the account to get the attention of the customer.
Wrong Security Authentication Answers
In situations where you fail to provide identifying information such as your personal generated pin or secret question for the bank to confirm that it is you controlling the account, they may have to place restrictions on such accounts.
In cases where your account is being reported for carrying out fraudulent activities or maybe your card is being reported stolen, the bank can decide to restrict your account.
Government Placed Restrictions
Considering the fact that the government also has the power to place restrictions on your account, in cases where you default in certain rules or laws as placed by the government, it can be quickly requested on by the government to the bank that restrictions be placed on such an account. In countries like Nigeria where the government has such power, it is legal and possible for such restrictions to be placed.
Inputting Incorrect Atm Pins
Inputting wrong ATM pins into the ATM with your card repeatedly can definitely be the reason your zenith bank account has been restricted.
Also, note that the reasons your zenith bank account was restricted may not be limited only to the points mentioned above. As I said earlier in the introduction, a million and one reasons can cause your zenith bank account to be restricted but these are some of the common causes I can help you with currently. I would strongly advise and highly recommend that the causes clearly mentioned above be avoided so as not to generate red flags that will eventually lead your account to the condition of being restricted or blocked.
Also note that restrictions placed on your zenith bank account are not always permanent but temporary and can definitely be resolved if and when necessary actions are carried out by the customer or rather, the owner of the restricted account in question.
How Your Zenith Bank Account Can be unrestricted
Being such an evolving and 21st-century bank, Zenith bank has provided its customers with bank app that allows them to chat with an online customer care representative through which all issues can be sorted out. Concerned customers may also decide to visit the bank directly as the issue of restriction can only be resolved by the appropriate staff or authority in the bank.
I hope this was very helpful. Best of luck.