Being a bank employee, I assure you that banks are legally not eligible to deduct your hard-earned money unless there is a case of an unpaid loan or any fraudulent activity. So do not worry much about can a bank take money from your account without permission unless you did something wrong. There are certain other cases when banks deduct money so let me just mention them here.
Can Banks Take Money From Your Account Without Permission?
No, banks cannot take money from your bank account unless:
There is any overdue payment pending as per the loan agreement
If there are cases of missed payments related to credit cards, loans, overdrafts or others
Unless you have activated the automatic payment option and allowed the bank to deduct the money without further approval
Banks might deduct money such as maintenance fees, late payment penalties, service fees, etc., but usually they are very nominal.
Banks sense any fraudulent transaction happening from your bank account
So these are the reasons why can the bank take money from your account without permission. If you feel a bank has deducted your money without any cause, simply visit the bank or call their customer service number and enquire about it.
Enjoy Hassle-Free Repayment Options for Your Personal Loan with NB InstaCashRead More:
Can bank charge for not maintaining minimum balance?
Authors Of The Question
Can a Bank Take Money from Your Account without Permission?
KishanR
10Views
0 days
2024-09-30T16:19:34+00:00 2024-09-30T16:19:35+00:00Comment
1 Answers
Share