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Can a bank go into your checking account and take money out If I am overdue on credit card payments?
Wiki User
∙ 15y ago
It depends. If:
- you have a monthly loan repayment agreement with the creditor wherein the creditor automatically deducts your monthly payments from your savings account or
- you have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the creditor reg. the same
Then, the creditor can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the creditor cannot deduct any money from your account without intimating you.
Wiki User
∙ 13y ago
Wiki User
∙ 15y agoIf the credit card agreement/contract that you signed with them when you got the card allows it, yes.
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How will it affect your credit score if lender requires you to have checking account so they can withdraw payments from each month?
Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.
Can RBS credit card payments be made online?
Yes RBS credit card payments can be made online. Simply link your payment account to your checking account. RBS's website will give you step by step instructions on how to do this.
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.
I want to make an online purchase but can't without a credit card so how can I pay using my checking account?
Many online merchants accept paypal payments. Paypal allows you to link your checking account to your paypal account.
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.
Why if I am paying monthly payments on medical bills are they on my credit report?
If the bills were overdue and you are making payments as the result of being 'dunned,' and the bills are not yet paid in full, it will reflect on your credit report.
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 minor hurt their credit score with an overdue library fee?
No. A library fine is not reported to credit agencies. Late payments on a credit card or mortgage are reported to credit agencies.
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
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
