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Can a bank automatically withdrawl from a bank account?

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 you withdrawl your money from a CD account early?

Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.


What are the benefits and drawbacks of using and ATMCheck card?

I think the benefits and drawbacks of using an ATM card will damage your bank account like the money you have in the bank could turn into negatives and put you debt.


Can I wire money from my bank account to another account?

Yes, you can wire money from your bank account to another account.


What does an IM withdrawl mean from your bank?

An IM withdrawal from your bank typically refers to an electronic transfer of funds from your bank account using an Instant Money service. This could involve sending money to another individual, paying bills, or making purchases online. The funds are usually deducted from your account immediately or within a short period of time, providing a quick and convenient way to access and manage your money.

Related Questions

Does paypal charge you for withdrawing money to your bank account?

If the withdrawl is over $149.99 There is a $0.50 Charge. Everything over 149.99 is free of carges.


Can a bank automatically withdrawl from a bank account?

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.


Is bank account an a bank deposit account the same?

No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your account. They are two different things but they are related.


Can you withdrawl your money from a CD account early?

Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.


What is a debit and how do you get one?

A debit is what occurs when you reduce a credit balance in a liability account such as a checking account. A debit can occur using a debit card, endorsed check, ATM withdrawl or withdrawl for the bank teller.


What are the benefits and drawbacks of using and ATMCheck card?

I think the benefits and drawbacks of using an ATM card will damage your bank account like the money you have in the bank could turn into negatives and put you debt.


Can I wire money from my bank account to another account?

Yes, you can wire money from your bank account to another account.


Why did fdes do an ach debit to bank of america account for 300 without my consent. I will contact my bank to find out what that withdrawl was from. Thank you for your assistance.?

what is fdes


How do you put money on an account?

Walk into an ATM and deposit the money into your bank accountWalk into the bank branch (any bank that you have an account with) and deposit the money into your bank account


What does an IM withdrawl mean from your bank?

An IM withdrawal from your bank typically refers to an electronic transfer of funds from your bank account using an Instant Money service. This could involve sending money to another individual, paying bills, or making purchases online. The funds are usually deducted from your account immediately or within a short period of time, providing a quick and convenient way to access and manage your money.


How you get interest rate?

First you need a bank account and money you put the money in the bank account, wait for a year or two and then you get more money in your bank account


How will make entry for bank over draft?

In the books of customer cash a/c Dr. To Bank (OD) A/c (Being cash withdrawl from bank overdraft account)