Newsonline reports that it is no longer news that once an allegation of fraud or breach of contract for the sale of goods is reported at the Police Station or to the bank, the first point of action is putting a PND restriction on the account.
Sometimes, the police usually do nothing after the PND restriction. They also fail to notify the bank of the investigation’s status, therefore leaving the PND to remain forever.
Most banks are reluctant to remove the PND restriction without the authority of the police. Getting the police or other law enforcement agencies to lift the restriction is sometimes problematic.
The lack of public trust in law enforcement agencies has further compounded an already precarious situation. The account holder has no choice but to continuously suffer the lack of access to his bank account, while the banks are at liberty to transact with such funds unhindered.
Most persons are presently facing this challenge and don’t know how to handle it.
Some persons have repeatedly visited the bank to inquire why there is a post no debit order on their account.
The bank has been unable to give any good reason other than the fact that the account is under investigation.
So the question, therefore, is how do you remove or vacate a PND order on your bank account?
Let’s look at steps you can take once there is a PND on your account.
1. Immediately contact your bank.
It is always advisable to contact the customer relationship officer/ manager or your account manager immediately you discover there is a PND restriction on your account.
2. Request an official report from your bank.
Banker/ customer relationship is a contractual relationship that is recognized by law. The bank has a fiduciary duty to manage your account with almost diligence.
It is your legal right to request a report on your account, once you observe an abnormally. The bank is duty-bound to provide you a statement on why there is a PND restriction on your account.
3. Officially write to the bank, disputing the rationale behind the PND, while requesting that same be vacated with immediate effect.
4. When the bank refuses to vacate the order, formally apply to the court for an Order vacating the PND restriction.
Applying to lift or vacate the PND restriction could be trickish at times. Tricky because 9 lawyers might approach the court for the same order, and while one gets the order within two weeks, others could drag on forever.
So before you contact a legal practitioner to assist in this regard, ensure he is well-grounded in banking and finance law, knows what to pray for, and how to make the prayer.
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