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Can an employer withdraw funds from an employee's bank account?
Wiki User
∙ 10y ago
No. Unless the employer is a signer on the account s/he can not withdraw funds from the account. There are very serious penalties for anyone either taking money or giving money from someone else's bank account. An employer can, however, reverse a direct deposit made into an employee's bank account, so it can seem like a withdrawal, but it really isn't. (For example, if a direct deposit were made in an incorrect amount, it could be reversed for the purpose of correcting it.)
Wiki User
∙ 10y ago
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When am I allowed to withdraw funds from my IRA?
Funds can be withdrawn from an IRA at almost any time although there is a 10% penalty if they are withdrawn before the account reaches a certain level. Each employer may be different.
Can the named ITF withdraw the bank account funds?
No the person can not transact on the account.
I want to withdraw funds from account?
If you're looking to withdraw funds from your own checking account and you have a bank card, you can do so at your bank, at an ATM, or at any business that offers cash back on debit card purchases. If you wish to withdraw funds from an account other than your checking account, you'll have to go to your bank or have the money you wish to withdraw transferred to your checking account (this can be done online or over the phone in many cases).
Do you have right to withdraw funds from fathers account?
It depends on your fathers predicament.
What happens to PF account if employee is dismissed?
The account will be discontinued and the employee can withdraw the funds when he wants.
Can a son withdraw funds from his fathers joint account?
if they are joint on the account together than yes
How do you update savings account?
It will auto update when you add money or withdraw funds from it.
Can I withdraw money from JP Morgan Chase bank?
If you have an account and funds are available you can.
Is it legal for the bank to withdraw funds from your authorized users account to pay off your account debt?
yes
What is the definition of a pension fund?
The definition of a pension fund is a fund started by an employer to help and to regulate the investment of employees retirement funds given to by the employer and the employees.
How to withdraw funds from 401k plan?
Contact Plan Administrator(where account is held) for forms.
I want to withdraw out of my traditional ira account.?
You can get the information about withdraw out of my traditional ira account from www.associatedcontent.com/article/14483/how_much_do_i_have_to_withdraw_from.html and www.myretirementblog.com/withdrawing-funds-from-an-individual-retirement-accounts.html
