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It depends. If:
- you have a monthly loan repayment agreement with the bank wherein the bank 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 bank reg. the same
Then, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
What else can I help you with?
My current bank account was closed and someone has been depositing money to it can the bank use this money for an outstanding loan?
my bank closed my account can i reopen the same account again
Can a bank take money from your savings account to satisfy a loan?
It depends. If:you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
Can I get a cash loan in the bank?
A bank institution will never hand out a loan in cash money. The bank will almost always make a deposit to your bank account, from which you can then withdraw cash.
Can chase bank withdraw money from your account with out you notify?
It depends. If:you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
Can loan companies take money from my bank account even if i havent taken out a loan with them?
Loan companies normally can't take money from your account if you haven't taken out a loan with them. However, some loan companies send checks to people as ads. If you cash the check, you're taking out a loan and the company can take money from your account.
If you are behind on an auto loan can the bank take money out of your checking account to pay the loan?
Read your loan agreement....it probably has a clause specifying they can.
What will happen if a customer puts more money into a checking account at her bank?
If a customer puts more money into her checking account at her bank, the balance of her account will increase. This means she will have more funds available to use for payments or withdrawals. The bank may also pay her interest on the increased balance, depending on the terms and conditions of her account.
Is a cosigner for a checking account liable for any loans the signer has with the same bank?
No, unless you so-signed on the loan you are not responsible for the loan. The only way you are affected is if someone uses your share of the money in the joint checking account to pay their personal loan, but legal responsibility does not fall on you...
If the mortgage lender and the checking account bank are the same does it help to open an account elsewhere to avoid them taking money from the account for delinquent payments?
it is my understanding that the only people who can take money from your account without your permission are the IRS to pay back taxes. unless you sign somthing giving the bank permission to take money out of your checking account I don't think they can do it. make sure you read the fine print of any loan document so you know that you are not giving them the right to take money out of your checking account.
My current bank account was closed and someone has been depositing money to it can the bank use this money for an outstanding loan?
my bank closed my account can i reopen the same account again
Can a loan be put on a Visa debit card even not having a checking account?
First of all, you cannot get a VISA debit card without having a checking (Or savings) account. A debit card does not exist stand-alone without a linked bank account. So, if your VISA debit card is linked to your bank account, then you can use it to pay for a loan. For a loan provider, the type of bank account you have does not really matter. All that matters is whether you'll repay the loan.
Can a bank take money from your savings account to satisfy a loan?
It depends. If:you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
Can I get a cash loan in the bank?
A bank institution will never hand out a loan in cash money. The bank will almost always make a deposit to your bank account, from which you can then withdraw cash.
What is the entry for bank loan account?
Debit Bank Account - Assets Credit Bank Loan Account - Liability
How are checking accounts to be used?
money must be in the account if you are writing checks there is no loan statis here
Can chase bank withdraw money from your account with out you notify?
It depends. If:you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
Can loan companies take money from my bank account even if i havent taken out a loan with them?
Loan companies normally can't take money from your account if you haven't taken out a loan with them. However, some loan companies send checks to people as ads. If you cash the check, you're taking out a loan and the company can take money from your account.
