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legal standpoint
drib0704
Posts: 11 Forumite
could anyone tell me if it is legal for a bank that i have an account with ,to approach another bank to remove money from that account to pay off an unauthorised overdraft i have with the first bank,without my knowledge or permission
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Comments
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No they cannot do that unless like halifax is owned by lloyds banking group and you own halifax money and you have money in a lloydstsb account then they can do it at their whish.could anyone tell me if it is legal for a bank that i have an account with ,to approach another bank to remove money from that account to pay off an unauthorised overdraft i have with the first bank,without my knowledge or permission0 -
"Approach"? No. Data protection act and stuff kicks in.
As Samjef pointed out however, if the banks are owned by the same company, they may have the right of "setting off", but this wouldn't result in 'an approach' - they'd normally just take the money then tell you about it afterwards.
You may find http://www.moneysavingexpert.com/news/banking/2010/07/fsa-tightens-screw-on-banks-raiding-savings-to-pay-debts and https://forums.moneysavingexpert.com/discussion/2577567 interesting reading.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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