Is my bank account 'safe'?

StevenH_2

I've read that some banks can take funds from a current account to use against a debt (credit card etc)?

I owe money to Barclaycard and MBNA (used to be an Abbey credit card).

I bank with Santander, is my bank account safe, that it won't be raided to pay my debts?

I owe money but it's under control, just worries me that a bank could do that, take my salary after payday and leave me defaulting on mortgage DD's etc!!

Joe_Bloggs

MSE Martin has an article here that describes the right to set off.
J_B.

DrSyn

You indicate you owe money. Have you investigated if you are able to join a local "Credit Union". Banks will not tell you about them!

www.moneysavingexpert.com/banking/credit-unions

JuicyJesus

DrSyn wrote: »

Banks will not tell you about them!

Are banks supposed to tell customers/potential customers about their competitors then?

Cmdr_Bond

StevenH wrote: »

I've read that some banks can take funds from a current account to use against a debt (credit card etc)?

I owe money to Barclaycard and MBNA (used to be an Abbey credit card).

I bank with Santander, is my bank account safe, that it won't be raided to pay my debts?

I owe money but it's under control, just worries me that a bank could do that, take my salary after payday and leave me defaulting on mortgage DD's etc!!

MBNA and Abbey/Santander are two separate companies. Presuming you don't also have a Barclays bank account you should be OK.

If it was a newer Abbey/Santander credit card not supplied by MBNA, then the right to offset could be invoked.

DrSyn

JuicyJesus wrote: »

Are banks supposed to tell customers/potential customers about their competitors then?

Banks do, but only when it puts them in a good light appearing to help the customer. Or when by careful selction of their competitors they appear to be the cheapest.

JuicyJesus

DrSyn wrote: »

Banks do, but only when it puts them in a good light appearing to help the customer. Or when by careful selction of their competitors they appear to be the cheapest.

So they advertise. Just like how Tesco won't tell you that your local corner shop is cheaper and more convenient than them, but will compare themselves to ASDA. Still not seeing your point here.

DrSyn

JuicyJesus wrote: »

So they advertise. Just like how Tesco won't tell you that your local corner shop is cheaper and more convenient than them, but will compare themselves to ASDA. Still not seeing your point here.

From what you write you get the point get the point very well.