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Jiggy_O | Can a bank transfer money from one account to another without my authorisation? |
I have two accounts with a bank, can they transfer money from one account to the other without my authorisation |
 |
 
Bob the Boat
|
Hi Jiggy,
Yup, they can.
Mr Barclay recently shifted a small amount from my deposit account to my current without so much as a phone call.
Upon questioning this internal transaction, I was informed that it is standard policy, so as to keep the current one "topped up"
I was dismayed.
Hold on I spake, you are borrowing my money at the end of the day, so stop fiddling with it without authorisation.
A great shrugging of shoulders at the other end.
I may well take my cash and poke it back into Standard Chartered. - at least they do what they are told.
All the best with them.
Bob. |
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Faye H
 |
Not unless you have them linked together with an overdraft protection or something. If they're just two totally separate accounts, then no, they should not move money between them without you asking them to. |
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Aimee P
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Not normally unless you have some agreement with them to transfer if you are in an overdraft situation or have agreed to move money from say a checking to savings account monthly. But without those and your consent, no they cannot. |
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Fuentes
 |
No, they must have your authorisation BUT check the small print about topping up one account from another in order to avoid an overdraft. |
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agent4927
 |
Only if you go overdrawn on one account without authorisation or telling them first or if more funds are needed to process a payment you have made - if they were to do that though you would probably find they would contact you to tell you or decline the payment because of lack of funds. |
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RK
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yes provided you own both accounts. they did it with me to pay a standing order that i didnt have the funds in the acount for and saved me getting fined |
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Rachel
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No I dont think they can. Its your account, with your money in it. |
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wiz
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Yep, if your accounts are with the Soft Touch Bank plc |
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kit
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They can because one of your accounts was overedrawn. So, if your checking account has a negative balance, then they will transfer money without your notice to cover what your checking account don't have the funds. |
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whewbahamas
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Absolutely not!! Make sure that you did not preauthorize. |
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Leah
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I don't think so - if they've done this you need to speak to someone as soon as possible and complain. Go into your branch rather than ring the customer service, you'll probably end up speaking to someone in a foreign country if you ring.
. |
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jrzeegrl71
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At the risk of being repetitive, yes they can.
If one of your accounts is overdrawn, the bank has the right to recoup this loss should you not repay the OD. Most times (I'm a banker), I will place a hold on the other account until the customer repays the OD. This way, if the account owner does not repay the OD, we avoid a charge-off and loss by having the funds held. At that point we would xfer the money and close the account at a zero balance. |
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emma
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i guest yes they can , the money you had on your account is transfer on your other account i guest you sign formalities of agreement with the bank before they opened your account ,all they did is transfered your money to your own account so be happy maybe they did it so that both of your account stay open if there no money on someone's account normally the bank have the right to close it. |
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Michael W
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I only know of three circumstances where this could happen:
1. You give express permission
2. You have some sort of overdraft protection agreement on file
3. The bank received some sort of garnishment order from a court, and is attempting to pay for it by any means necessary. |
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Duffer
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If one account is overdrawn (unagreed), or below an agreed balance level, and another for the same person shows a credit balance, the bank has a right of set-off. |
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Clare E
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No they cannot. Money can only be transferred between accounts if the account holder has given authorisation (direct debit, cheque, payment etc). Even if both are in your name, they are seperate accounts and this should be noted. |
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