If your Dappr Financial Account is suspended or has been restricted, you may be unable to send, receive, or manage funds. This article explains the common reasons for account limitations, the types of restrictions you might encounter, and how to resolve them when possible.
Your Dappr Financial Account is a core feature of the platform, designed to centralize your business finances. The account is a commercial account held with our partner, Fifth Third Bank, N.A., and features FDIC sweep coverage. To protect users and comply with financial regulations, Dappr and our partners must sometimes place temporary restrictions on accounts that require attention.
Common reasons for account suspensions
Dappr monitors account activity for security and compliance purposes. An account may be suspended for several reasons, most of which are temporary and can be resolved by providing additional information.
Pending Information Requests: The most common reason for a suspension is a failure to respond to a request for information. Financial regulations require us to maintain current Know Your Customer (KYC) and Know Your Business (KYB) documentation. If information is missing or needs verification, Dappr will contact you via email and your dashboard. An account is typically only suspended after a response is not received within the specified timeframe.
Security and Risk Prevention: Dappr’s systems may flag unusual transaction patterns to protect against potential fraud or unauthorized account access. This can lead to a temporary hold or suspension while the activity is reviewed.
Legal and Regulatory Compliance: Dappr must adhere to federal laws and banking regulations. An account may be restricted to comply with legal obligations or to address a potential compliance issue.
Types of account restrictions
A restriction does not always mean a full account suspension. Depending on the situation, you may face one of the following limitations.
Full Suspension: All account activity, including incoming and outgoing payments, is blocked.
Partial Restriction: Certain features may be disabled. For example, you might be able to receive payments but be blocked from sending funds to an external account. Dappr may also limit the size, frequency, or type of transactions you can perform.
How to resolve an account suspension
If your account is suspended, the first step is to check for communications from Dappr.
Check Your Email and Dashboard: Look for any messages from the Dappr compliance team that request information or documentation. These messages will explain what is needed and why.
Provide Information Promptly: The fastest way to lift a suspension is to provide a complete response to any pending information requests.
Contact Support: If you cannot find a notification from Dappr or are unsure why your account is suspended, please contact our support team for assistance.
In cases where a suspension is related to suspected fraud or a severe violation of terms, Dappr reserves the right to suspend the account indefinitely. Review the full Financial Account Agreement for further information.