Legal Question in Banking Law in California
Banking
I have a checking and savings account with WAMU. I just started a new job and I was overdrawn on my checking account. I deposited a small check into my savings account so I could still have money while I wait for my first check. The bank without my permission, cashed it after the deposit and TRANSFERRED the funds into my separate checking account. Can they do that?
Asked on 11/10/07, 12:50 am
1 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
Re: Banking
Sure they have your permission. You signed a contract with them when you opened your account that gives them the right to recover your overdrafts from any of your accounts. You just didn't read it.
Answered on 11/10/07, 2:15 am
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