CC company taking money from my bank account.

john_d_5

hi all, i have a BOS credit card, today i got a letter saying unless the balance was paid in full (over £3000) they may take it from any other other accounts i have with them, i have an account with the halifax, i know they are essentially the same ppl so what are they chances of them dipping into my halifax account?

mjm3346

Surprised they gave you any warning, normally they would just take it to stop you withdrawing it;)

(assuming you have arrears on the cc)

stephane_2

They are normally allowed to take money from your current account if same bank up to the limit of any arrears and fees. I strongly suggest that you only leave what you need in that account until you've sorted out a repayment plan with BOS

Paul_Herring

john_d wrote: »

hi all, i have a BOS credit card, today i got a letter saying unless the balance was paid in full (over £3000) they may take it from any other other accounts i have with them, i have an account with the halifax, i know they are essentially the same ppl so what are they chances of them dipping into my halifax account?

If you've got to the point of arrears where they're threatening to set-off, then highly likely. Though it's unusual that they're warning you - you may want to check that they haven't already done it, and this 'warning' letter is informing you of what they're legally able to do/have done.

Required reading: http://www.moneysavingexpert.com/banking/setting-off

Fruit_and_Nut_Case

Google right of set off to see what the bank can and can't do.