When Can a Bank Take Money From Your Checking Account Without Your Permission?
The Motley Fool
APRIL 7, 2024
Contrary to what you might think, a bank could legally withdraw money from your deposit accounts (like a checking or high-yield savings account ) if you've defaulted on one of its loan products, like a mortgage or car loan. Of course, you could also avoid this by keeping up with your loan and mortgage payments.
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