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Multiple Accounts - Same Bank?
Do you have a credit card and either a checking or savings account with the same bank? You may be playing with fire. This could be dangerous. In many cases, either permitted by state law or agreed to in your credit card agreement, the bank may be permitted to withdraw money from your checking or savings account without notice and without your permission to satisfy an outstanding credit card debt.
Don't Play With Fire
You can check your credit card agreement and your state law to determine if this could happen to you. However, the safest course of action is to make sure you do not have a credit card account where you have your checking or savings account.
Can This Happen To You?
It can if you have asset accounts and credit account at the same bank. Be careful.
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1 comments:
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