Freeze and stop payment means that users/banks/judicial authorities can freeze bank accounts.

In the financial and legal world, stop payment and freeze are two common terms used to restrict the use of a specific account or asset. Although they all involve restrictions on funds, there are certain differences in their nature and severity. Bank card freezing actually refers to the freezing of assets, that is, no one can misappropriate funds and they are temporarily controlled.

The police generally freeze the assets of units, companies or individuals to assist the police in handling cases. Under special circumstances, some enterprises and institutions whose bank cards have been stolen have requested the bank to freeze funds to ensure the safety of their property. Stop payment is a notice to stop payment. A payment suspension notice is a payment suspension document issued to the payer after the People's Court decides to accept the publicity application.

Freezing of Assets

After receiving a notice from the People’s Court to stop payment, the payer shall immediately stop payment until the announcement procedure is terminated. Credit card stop payment is a preventive measure taken by banks to strengthen management, ensure security, and prevent counterfeit and lost cards from being used to cause losses and adverse effects. At the same time, it is also an important step to stop payment of the main card or supplementary card at the request of the cardholder and reduce the cardholder's losses and risks.

Loss refers to the net outflow of economic benefits that occurs due to non-routine activities of the enterprise, leads to a reduction in owners' equity, and is not related to the distribution of profits to owners. Specifically, it refers to losses caused by inventory losses, damage, and scrapping of fixed assets and inventories, losses from transferred properties, losses from bad debts, losses from bad debts, losses from natural disasters and other force majeure factors that occur during production and operation activities, and other losses.