I assume you mean that your account has been garnished. If you pay the debt, the creditor has to file a dismissal of the garnishment and a satisfaction of judgment. The bank will not release the account until it is provided with the proper documentation, which if the creditor cooperates, should not take too long.
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It should happen quickly; but I always anticipate that it will take a few days. Things will happen faster if you get the garnishment release/dismissal and have a copy delivered or faxed to the bank's garnishment department (most large banks have a central office - often in another state - that handles all garnishments).
However, before I would pay the judgment, I would at least talk with an experienced consumer debt defense attorney to see if 1) you have any defenses to the garnishment, 2) you have any challenge to the judgment, or 3) there is a way to negotiate a reduced pay-off.
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