Can a bank take money out of your account without your permission?
Yes, for fees. You should read the fine print in your start up paperwork, you can find that answer there.If the account holder has a loan at the bank the bank may legally use a "set off" action to remove the payment amount (and arrears if any) when the agreed terms of the financial transaction are not being met. You gave them permission If you ask, they can show you the document that you signed agreeing to allow the charges or withdrawals. It could be on the application for a checking account (I agree to pay all service fees . . . .) or on a loan agreement (Any monies deposited in my accounts . . . .) or some other document.
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