Washington Receipt of Funds into Blocked Financial Account is a financial instrument available to Washington state residents who need to temporarily block funds from being accessed or used. The purpose of this instrument is to protect the owner of the funds from fraud or theft. The funds are held in a secure bank account and the owner can decide when to make the funds available for use. There are two types of Washington Receipt of Funds into Blocked Financial Account: the first type is for individuals, and the second type is for businesses. For individuals, the Washington Receipt of Funds into Blocked Financial Account is used to temporarily block access to funds until it is needed. The account holder must complete a form and provide proof of identity, address, and other relevant information. The funds are secured in an FDIC-insured bank account and are available for use when the owner decides. For businesses, the Washington Receipt of Funds into Blocked Financial Account is used to protect the business from fraudulent transactions. Businesses can choose to block funds for a certain period of time, or until specific conditions are met. The business must provide proof of identity, address, and other relevant information, as well as a written agreement. The funds are secured in an FDIC-insured bank account and are available for use when the business decides.