2007-10-01 08:08:47 · 14 answers · asked by david s 2 in Business & Finance ➔ Credit
Do you use them as your bank and they stole money out of the account?
It shouldn't matter'; I think that you need a preauthorized ACH for them to take money out- if you gave them permission to take $50.00 a month or what ever. If you didn't give them permission then I would definitely be calling my lawyer to check.
2007-10-01 08:13:08 · answer #1 · answered by like the ocean needs the waves 4 · 0⤊ 0⤋
More than likely, you gave them permission by accepting the term of your credit card or your bank account.
MANY banks link your bank account and credit card. Most of the time, this feature is framed as a convenience to you. For example, if you overdraft your bank account, it automatically pulls money from your credit on your credit card, so you don't get hit by the overdraft charge. Many times, this is a bi-directional agreement. Read the fine prints you agreed before taking them to court or taking any actions.
You are still bound by the rules you agreed, regardless of if you read it or not. You'd be amazed what's in those agreements, if you actually take your time to read them.
2007-10-01 08:19:34 · answer #2 · answered by tkquestion 7 · 0⤊ 0⤋
They would have to be connected. Meaning you are a client with the bank. Lets say you have 2 checking accounts and one has 100 dollars in that account, one is 50 dollars negative.
Can the bank take that money out to pay for the other? Yes they can you are a customer. They normally would never do this unless you pissed them off.
Im sure the bank was completely in their legal right to do what they did. Sorry not the answer you were looking for, just giving you the answer.
2007-10-01 08:16:27 · answer #3 · answered by financing_loans 6 · 0⤊ 0⤋
I owed them on 2 credit cards. One was mine and one my husbands. We had a joint checking account with BOA. I went late on both of them for a long time and they never touched MY money. Call their customer care number and see if someone is illegally taking your money. They are open 24/7 so call now. Don't let them get away with this.
2007-10-01 11:55:54 · answer #4 · answered by Jill S 5 · 0⤊ 0⤋
I'm not sure of Bank of America's policy, but if it is true, I would consider changing banks. Your bank should have some kind of fraud protection policy, if you haven't made these charges, why should you be liable and not the bank. You may want to check with the local police department and file a report if needed. Good Luck!
2016-05-18 02:29:11 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Usually on a consumer loans they have the right of setoff. This is the first time I heard them do it on credit cards. If you do not have a copy of what you signed , just go into the branch and get a copy of the application then speak to a Branch Manager,not a customer service rep.
2007-10-01 09:49:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋
was the account with bank of america as well? and Im not sure they can do that but if anything just call any lawyer on yellow pages and ask them. They'll know whether u have a case or not.
2007-10-01 08:16:58 · answer #7 · answered by 9ball 4 · 0⤊ 0⤋
They can do it if you signed a contract saying they can. I feel bad for you even if you do owe it to them. Most contracts are so misleading.. Maybe next time try keeping that money under the mattress where it belongs and where they can't take it.
2007-10-01 10:48:27 · answer #8 · answered by Anonymous · 0⤊ 0⤋
They didn't steal it, you owed them and was trying to steal from them by not paying the credit card. Sorry but if you don't pay then don't play.
2007-10-01 08:47:20 · answer #9 · answered by Leo F 4 · 0⤊ 1⤋
Read your credit card application that you signed, I think that you will find that you authorized such a transfer.
2007-10-01 08:13:04 · answer #10 · answered by Anonymous · 1⤊ 0⤋