Is it lawful for the bank to take out of my checking for a payment without my consent? ?

Question

the bank took the liberty to take mmoney out of my busiess account for a past due payment. can they do this legally?

Answer 1

Most banks have included in the fine print that if you default, they can take the funds from any other account you have with them.  

Answer 2

Someone once said "The devil is in the details" and I'll bet that if you read the terms and conditions they were within their rights.

Answer 3

Yes, in most all contracts that you sign - it has what is called "The Right to Offset"  clause - which literally means they may take your payment out of your bank account, if and when you become delinquent . BUT it may ONLY be the past due amount not the next month's payment.  Make sure it was for only the amount that was past due.  

Answer 4

Depends on the FINE print concerning the accounts.  Many allow them to do just that when you do not pay your debts.