Does a bank have the right by law to take money from my checking account for an overdue bill?
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Does a bank have the right by law to take money from my checking account for an overdue bill?
Asked on August 24, 2012 under Bankruptcy Law, Massachusetts
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Whether or not a lending institution has the contractual right to transfer moneys from a customer's account to pay off an overdue bill depends upon whether or not the bank's customer signed a written authorization with the bank allowing for such a transfer of money.
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