Yes. If an individual, or couple has a checking, savings, or other form of deposit account at the same financial institution where they have a debt account (i.e. credit card, auto loan, mortgage, other) there exists a risk of the financial institution invoking its "Right to Offset" the debt account with monies from the asset account. In other words, if an individual for whatever reason fails to make payments on a liability account, the financial institution has the legal right to not only freeze that individuals asset/deposit account, but to also seize any funds available to offset the debt due to that financial institution. A search of the internet shows that smaller, State chartered credit unions seem to invoke the "Right of Offset" far more often than larger banks and financial institutions.
Read "Right of Offset- Protect your Money and Assets" (link below) for more detailed information on this subject, and ideas on how to protect yourself in the future. Also read you credit union member agreement and auto loan application for the specific wording on "Right of Offset" as it pertains to your situation.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Checking account
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
yes you can open a savings and a checking both
Savings accounts earn interest.
In the ePay function, how can you split a payment between your savings account and your checking account
In the ePay function, how can you split a payment between your savings account and your checking account
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
proof of payment.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
Unless it says otherwise* in your terms and conditions, you cannot make a payment from a savings account- there is a law concerning both number and nature of withdrawals. The best thing to do is to transfer money from your savings into checking, then schedule the payment from your checking account... * usually if it does say otherwise, then it's not a savings account. If it is, you have the one bank that is able to skip that part of the law controlling personal bank accounts.
i cannot split a payment in this way. i must always just pay from one account.