Nope. It's not about my bank account being frozen but the funds being frozen in the spot wallet where deposits of cryptocurrency is being held. Anyways the problem has been fixed.
I'm curious to know too the solution to this kind of problem as a fellow BinanceP2P user. There live support is quick to fix any issue just be patient on waiting on the queue.
Just a tip for everyone though. The reason why Binance is freezing the wallet making you unable to make such transfer from one wallet to another wallet is because that the deposited amount of BTC from your spot wallet is still not completed its required number of confirmation, maybe for security purposes. Though the balance is reflecting on my wallet after completing the 1 block confirmation, you still need to wait for at least 10 or 15 minutes for you to be able to transfer your funds to another wallet..
Thank you everyone for replies
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. Locking the thread now.