Could a bank confiscate your money?
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arch
Apprentice
Joined: 20 May 2006
Posts: 2
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 Posted: 08/27/08 - 04:11 Post subject: |
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| I had a current account in one bank and a second account in the other bank. I lost a job last month and I went in some financial problems. I've didn't have enough money to pay for my overdraft immediately so the first bank blocked my current account with them and charged me for that. That didn't worry me so much because I thought I still have enough money on second account in other bank. But when I went there I found out that my account balance is zero. They told me that it is because my first bank confiscated my money from that account. Could a bank confiscate your money as they want? |
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hewe
Apprentice
Joined: 10 Dec 2006
Posts: 1
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| Posted: 09/26/08 - 01:25 Post subject: |
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| Your situation stands like this. The bank could confiscate your money from the account in some other bank or banks in just to cases. First is when they get a court order for that. That is a 100 legal and you could only appeal on the court decision. Other situation when bank can confiscate your money is not so legal. It happened when the bank that wants your money have a special business agreement signed with the bank where you got your second account. It would be an agreement between the banks that they help each other in the situation that a client has any unclear debts. That agreement is legal but because your rights as a customer are in danger the process is not legal. In that case you should get a legal advisor. |
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