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Can a Bank take money out of your account without permission

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m.tator



Joined: 02 Apr 2010
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120 Magic Points

Subject: Can a Bank take money out of your account without permission
 
Posted on Fri Apr 02, 2010 7:50 pm  

Our bank took $824.06 out of our account without informing us or having permission. They brought the loans from Washington Mutual which went bankrupt. We had a account there four or five years ago in a different state and don't believe we owed the bank anything. When we spoke to our bank they couldn't even tell us anything to prove we actually owed this amount. They brought the loans from Washington Mutual which went bankrupt. We had a account there four or five years ago in a different state and don't believe we owed the bank anything. When we spoke to our bank they couldn't even tell us anything to prove we actually owed this amount. Our money feels like it was just stolen. And all we get is the run around. Our bank said they would send us out a statement and we would need to tally it up and see if the amount was correct. Or even if it was true before we could dispute it. Just because they brought the debt does that give them the right to just take it from our account without notice. Just when we needed to pay our mortgage. And we were both just layed off. And if they are wrong about the debt or the amount, are we just out of luck unless we get a lawyer. Which I'm sure they know will cost more than what they took from us. So is this a lose lose situation because it's a big bank? Is this legal? Can we do anything?
cinnamngrl

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Posted on Sat Apr 03, 2010 2:35 pm  

It can be legal if the account is owned by the same bank as the loan.

Is this CHASE? I would report the situation to the Office of the Comptroler of the Currency.
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Oscar1987



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Posted on Sat Apr 03, 2010 11:16 pm  

this happened to me with BBT bank, I was not able to do anything, after speakin with my attorney i was told i was not able to do anything. in the fine print when you open the acct it says that any debt can be withdrawn from your acct. so they "technacally" did it with your permission b/c you gave them an ok when you agreed to the terms and conditions
sdchargers_63

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Subject: credit
 
Posted on Sun Apr 04, 2010 12:46 am  

How can a bank take that MUCH, out of your bank account, without giving you SOME kind of explaination? Is there a Manager, of the bank, you can talk to? Or...did the bank give you some kind of paperwork,..a contract...on what you owe and why you owe it?
cinnamngrl

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Posted on Sun Apr 04, 2010 2:55 pm  

it might be legal as I have said if the checking and loan are the same bank but that doesn't mean the OCC can't help.
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sdchargers_63

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Subject: credit
 
Posted on Mon Apr 05, 2010 12:45 am  

I'm unclear about something here. Was the lender at the same bank where your bank account is? Did I mis something in the original post?
Aaron

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Subject: bank taking money from account
 
Posted on Mon Apr 05, 2010 7:48 am  

Hi Oscar,

If you owe money to the same bank where you have an account, the bank can take the money to pay the loan. You shouldn't keep money with the same bank to whom you owe.

Thanks,

Aaron
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Subject: chase
 
Posted on Thu Apr 29, 2010 7:45 pm  

Chase states that they have the right to take money from your account if they determine that you owe money from a previous account from Bank One, Washington Mutual, etc that they now own. They claim that this is legal because on one of about 30 something pages of their disclosure policies you agreed to this when you opened your account. However, they do not verify the information nor do they tell you that they are doing this. They claim that they don't have to notify you. I think it should be illegal for them to take money without verifiying and letting you know where your money is going. We had this happen also on an account that was more than five years old and information not verified.
highwaymadness
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Subject: Washington Mutual
 
Posted on Wed Jul 21, 2010 4:39 am  

they havent taken any money from me but a few years back someone actually used my card and over drafted my account by $947 plus they took like $5900 i put out an investigation so that the money would be returned i never received anything and cant open an account... i went to chace they cant find it i went to a few banks they all soy i dont owe... but i still cant open an account what can i do????
Aaron

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Subject: Washington mutual
 
Posted on Fri Jul 30, 2010 12:04 pm  

Hi highwaymadness,

Pull a copy of your credit report and check the status of this account. Can you give more details on this? More information is needed to help you in your problem. You should also talk to the bank about opening the account.

Thanks,

Aaron
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Kay25
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Subject: Chase
 
Posted on Thu Aug 05, 2010 10:22 pm  

This actually happen to me today.. I checked my account and it was in the negative I was trying to figure it out because I just got paid yesterday. Chase told me over the phone my money went to another account I owed, I didn't understand so I went to a local branch and the woman told me I owed WuMu back in 2007, I told her I paid it off she said there's no record.. So basically they cleaned my account out and left me in the negatives and there's nothing I can do about it. This should be illegal because I'm one of those who never carry cash and I have no money until next pay day which is two weeks away!
Aaron

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Subject: chase
 
Posted on Fri Aug 06, 2010 11:14 am  

Hi Kay,

This is unauthorized withdrawal. You should talk to the bank about this, and request them to give you copy of the withdrawals. This should not be done over the phone. You should go over to the bank, and show them copies of your payments, and request them to put an alert on this account. File complaints with the State Attorney General. You can even sue WaMu for this.

Thanks,

Aaron
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tinkle



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Posted on Fri Aug 06, 2010 8:38 pm  

Generally bank can not do it without your permission. If you made any any agreement then they can. Just check did you sign on any agreement if yes then read it's terms & conditions.
trick



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Posted on Sat Aug 07, 2010 6:35 am  

This is illegal. No bank can do so. Talk to bank authority if they don't return money then you can take legal action against them.
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Subject: me 2
 
Posted on Wed Sep 01, 2010 12:55 pm  

This just happened to me as well yesterday. Chase cleared out my account based on some WaMu account debt they bought that apparently went through 3 different debt collection agencies before chase bought it. They said according the the TOA I gave them permission and it sufficed as notice for them to take out these funds. When I opened the account I actuall asked about this, and the banker told me it had to do with loans through chase itself as well as overdrafting on a chase account. She said nothing about chase being able to by debt that may or may not be valid from debt collectors.

I'm very angry about this whole thing. I mean I have been in very good standing with my bank since I have opened this account. You think they would want to keep their customers instead of robbing them blind. I never even recieved notice of the initial debt the bank is claiming I owed to WaMu. This is completely rediculous and it seems like they are doing this regularly to their customers.

If at all possible I think it would be great for everyone who has had this done to them contact the BBB and OOC. Then possibly see about getting a class action lawsuit against Chase/JP Morgan for unjust and unfair actions it regularly engages in against its customers.

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