Yes. Deposit agreements let banks freeze or close accounts at their discretion — suspicion of "unusual activity," a compliance flag, a risk-scoring model, or reputational concern about your lawful industry. No court order required, no appeal guaranteed.
What a freeze looks like
- Cards decline; transfers bounce; payroll can't land.
- The bank won't say why — explaining might be "tipping off."
- Reviews run days to months. Your rent doesn't wait.
Why it's structural, not personal
The bank holds the ledger, so the bank holds the switch. Any system where a third party controls your balance is a system where your balance is conditional.
The alternative
Self-custody removes the switch entirely: Specter never holds private keys and cannot freeze anyone's money — not "won't," can't. No bank account, no payment processor, no KYC required to participate.