If I'm a signer on my mom's bank account can a bank take her money to pay my past due credit card balance?
It IS their account. The only way to keep the money in an account is to sign up with them for an account that requires both signatures for withdrawal. Otherwise, the money will be used.
Speaking from personal experience, they will take the money from the bank account that you signed up with regardless if the money is in there to cover it or not. If there is not enough money in the account then you will owe the bank money. If you don't pay the bank long enough they will take you to court, and you wont be able to open another bank account for a little while.
A bank can take money from an account through various methods such as fees, charges, withdrawals, or transfers authorized by the account holder.
Yes, the bank can take money from your account for various reasons such as fees, charges, or if you have authorized a payment or transfer.
The time it takes to transfer money from one bank account to another can vary depending on the banks involved and the method of transfer. Typically, it can take anywhere from a few hours to a few business days for the transfer to be completed.
It IS their account. The only way to keep the money in an account is to sign up with them for an account that requires both signatures for withdrawal. Otherwise, the money will be used.
no
A bank can take money from another account in their bank to pay a charge off. They have to reveal this in paperwork with small print that you more than likely signed without knowing it. Check your bank's policy but bank's are tightly regulated and follow the law very closely.
Speaking from personal experience, they will take the money from the bank account that you signed up with regardless if the money is in there to cover it or not. If there is not enough money in the account then you will owe the bank money. If you don't pay the bank long enough they will take you to court, and you wont be able to open another bank account for a little while.
We debit our bank account every time with withdraw (take out) money from our bank account.
A bank can take money from an account through various methods such as fees, charges, withdrawals, or transfers authorized by the account holder.
Yes, the bank can take money from your account for various reasons such as fees, charges, or if you have authorized a payment or transfer.
The time it takes to transfer money from one bank account to another can vary depending on the banks involved and the method of transfer. Typically, it can take anywhere from a few hours to a few business days for the transfer to be completed.
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no
We debit our bank account every time we withdraw (take out) some of our money.
Take the money to a teller at your bank, or deposit it in the ATM at your bank.