Money taken from checking account

Hi. Did you have a automatic payment on this card? Like an automatic debit from your bank to pay for this cc?

Hi Ron
If you have linked your credit card with your checking account while filing up the credit card application form, then you have authorized the bank to debit money from your account if you fail to make payment on the credit card within the due date and so it is legal.
Can you tell me whether the bank has reported the debt to the bureaus before they have taken the money from your checking account?

Hello all,

Working for a bank I can tell you that you don't even have to have your credit card linked to your checking account in order for them to do this. Any financial institution can debit a deposit account you have with them to pay off a debt with another account also with that bank if you are behind. I've seen this a lot when you have two checking accounts and have overdrawn one of them so they just debit your current account to payoff the past due one. If you really want to make sure than just request a personal and business account aggreement for both of your accounts. I'm sure it's listed in there somewhere....

Yes this is true. You need to read the fine details. I believe banks have to do this to protect their interests. It would seem resonable for a bank to attach another account in their office to pay a defaulted one. Hoppefully they did not report to your credit report because this would really mess up your score. I would suggest calling them and asking if it was reported. If it was not you may be glad they took this action in the long run instead of having the mark on your report.

Hi Ron ,

Welcome to our forum.

If you has linked your card for auto payment from your bank account then they will took amount from your account to pay your credit balance.

If you have not linked your card when your payment going on pending the bank will inform you about that & request to make payment from your bank account.

Thanks & Regards.

That could be true but the ooster mentioned that he defaulted and they took the entore amount so I am assuming they took what her owned in total on the account

Hi cbass
I have a question? Since you are working with a bank, I think that you can solve my query.
If I have huge credit card debts and I am willing to settle the debt for less (say for 40%). Will the bank agree to settle the debt if I have an account with the same bank where my salary gets deposited directly and the account has high balance. Is it possible that the bank will debit my account directly for the credit card debt when my next salary credit comes in.