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Yes. Accounts held at a bank where a loan is also active can be garnished for repayment of the loan and applicable fees by the use of a "set off". The bank does not need to obtain a court order nor permission from the account holder to implement the action.


This must have been posted by someone in the banking industry such as a loan offices. They can only do this if you have signed a wage assessment agreement which is also terminate at will and it is not a normal practice, it would be done by someone wanting to show you they are in control when technically they are just giving you a hard time. You really have to read your agreement to be sure what they are legally able to do. Just do not fall for the old yes we can routine and look further into the matter. A lot of bank laws are out dated and do I mean out dated, most was wrote in the 30's and 40's which are still in play today, so I am sure if it is a serious amount of money for the matter, check with a lawyer.
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โˆ™ 2009-10-12 19:48:19
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Q: Can a bank withdraw money from your checking account to bring an account current without notifying you that they are doing so?
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What are some terms of a checking account?

Current account in the UK


What is on differences between a checking account and a saving account?

A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


What is the difference in a checking account and a saving account?

A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


Do they close your current bank account when filing for bankruptcy?

No they do not close your Checking or Savings account


What is difference between checking account and current account?

A checking account is an account where cash can be quickly withdrawn with the use of checks or debit cards. A current account is a financial asset account in accounting in which assets can be easily made liquid or have a turnover period of less than a year.


What forms of identification do I need to open a checking account?

When I opened my checking account I had to present a current texas drivers liscense, and my social security card.


What is the difference between a current account and a call deposit account?

You can withdraw cash at your call deposit account at any time if you have a call deposit account. The current account has the sum of the income of the goods and service less the expenditure.


Check your account balance by account number?

Yes it is account nmhkljuopl


What are the various types of bank accounts?

* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits


Is there a limit to how much cash one can withdraw from one's checking account?

There is no single answer to this question because every bank, for each type of account that it offers, will set a different cash withdrawal limit for each customer depending upon his or her previous track record and current credit rating.


What is current balance on checking savings and other bank accounts?

account balance information


What is the difference between a chequing and savings account?

A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


Change my bank account for direct deposit?

My current bank checking account is invalid. How do I change the account number to the new checking account ???


What are the various types of deposits in a private and nationalized bank?

* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits


What document is used to withdraw money from a current bank account?

Withdrawal slip.


What does savings account mean?

Generally a savings account pays interest, and a checking (current) account doesn't. Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.


Online Bank Account?

form_title= Online Bank Account form_header= Bank from anywhere with an online bank account! Who is your current bank provider?*= _ [50] What is your current interest rate?*= _ [50] What account types do you own?= [] Checking [] Savings


What is the current interst rate for a checking account?

Checking Accounts are also called as Current Accounts. A checking account is one in which customers keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. So the interest you may earn is either less than 1% or even 0 in many cases.


What do banks do when checking account fraud is discovered?

When fraud is discovered in a checking. current account, the account is frozen or restricted for further investigation to take place and after this is been done, a decision will be made to either report the person to the authorities, depending on the level of the crime.


What is current accounts savings account?

A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


What is saving account?

A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


What is the different between current account and savings account in bank?

A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


How does a saving account work?

A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


What is a simple savings account?

A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


What do you need to take to the bank to open a checking account?

A current photo id, a social security card and money.