To levy upon a deposit account or Safe-Deposit Box, the levying officer shall personally serve a copy of the writ of execution and a notice of levy on the financial institution with which the deposit account is maintained. (CCP 700.140, 700.150) A financial institution having nine (9) or more branches shall designate one or more central locations for legal process. (CCP 680.115) The California Department of Financial Protection & Innovation maintains Central Locations for Service of Legal Process. Should a financial institution required to designate a central location fail to do so, each branch of that institution located in this state shall be deemed to be a central location at which service of legal process may be made, and all of the institution’s branches or offices located within this state shall be deemed to be a branch or office covered by central process.
"Deposit account" means a demand, time, savings, passbook, or similar account maintained with a bank. The term does not include investment property or accounts evidenced by an instrument. (CCP 680.170; COMM 9102(a)(29)) “Financial institution” is defined as a state or national bank, state or federal savings and loan association or credit union, or like organization, and includes a corporation engaged in a safe deposit business. (CCP 680.200)
The lien reaches only amounts in the deposit account at the time of service on the financial institution (including any item in the deposit account that is in the process of being collected) unless the item is returned unpaid to the financial institution. The lien terminates when the amount levied upon is paid to the levying officer.