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Can Bank of America take money out of my checking account to pay off a charged off credit card debt?
Wiki User
∙ 14y ago
To whomever posted this question, please e-mail me. I have a similar issue with Bank of America and am currently doing some research. Contact me and we can possibly discuss.
MMonterio@comcast.net
The answer to this question is YES, to anyone out there that has credit cards at bank of america, and also have checking accounts there that have balances, at a certain point in default, they can and WILL take money out of your checking. I just had it happen to me, and my lawyer says its legal because its in the fine print of the loan. Your checking account is collateral. They also do this completely un-announced.
Wiki User
∙ 14y ago
Wiki User
∙ 13y agoIt depends if you have the minimum in your account. If you have less then that and are always overdrawn, then I doubt they would take away money.
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Is a credit card needed to sign in to Bank of America?
No, a credit card is not needed to sign into Bank of America. One can have a checking account, a savings account, or other business with Bank of America without having a credit card.
Can you pay Bank of America mortgage with credit card?
Bank Of America does not allow payments towards mortgage balance to be applied from a credit card, only a checking account. Cash advance from a credit card can be obtained and then transferred to a checking account which is being used for the mortgage payment.
What is the difference between a checking account and credit card account?
checking from bank fund & credit card prepaid by credit
Where can I Open A Checking Account without a credit check?
You can open a checking account with badcreditnic.com. The do no check your credit.
Does Hapo Community Credit Union have an online checking account?
While not an "online checking account" in the manner of Bank of America, HAPO Community Credit Union offers online banking options to its members including account management, transfers and bill-pay.
How does a credit card account differ from a checking account?
A credit card account comes with a credit card, which can be used to authorize purchases of any value. The checking account does not come with a credit card and is used for issuing checks.
Can a bank of America credit card access my Bank of America checking account to pay a late payment?
No. It cannot be done by the bank. They can add the late payment fee & other charges to your credit card account but cannot automatically deduct amounts from your checking account - unless, you have given them standing instructions to debit monthly card payments automatically from your account.
What is a checking account at a credit union called?
what is a chekcing account at a credit union
How do you get a checking account with bad credit?
Credit scores have nothing to do with checking accounts. Unless you've had major overdraft issues with a previous checking account you will have no problems opening a new one.
If you close a checking account wll it hurt your credit score?
Checking accounts are not normally reflected on a credit report.
Does having a checking account improve your credit score?
No, a checking account is not correlated to your credit score. The only reason why you have to give your social security # is to prove that you have no outstanding debt with any other banks. ______________________________________ Actually, there is a correlation. Having a checking account doesn't improve your credit score, but you can be accepted or denied an account based on it. If you have bad credit, or no credit, you may be denied from a variety of bank checking accounts. I was told by my lawyer it does improve your credit if you keep your checking account in good standings he said the bank report it monthly to the crdit bureaus thats just what i was told
Can Overdraft fees be charged for checking bank balances online?
If you try to spend more money than you have in your account you will be charged overdraft fees no matter if you are using online banking or physical checks or credit cards.
