Legal Question in Banking Law in Georgia

Is it legal for my bank to take funds from an unrelated checking account.

About a year ago my partner and I closed a joint checking account. We then opened separate individual accounts at the same bank. About eight months later my account became overdrawn for a suspended amount of time. The bank then withdrew funds from my partner's unrelated checking account to cover the negative balance. My partner then had to dispute this with the bank who made the process very difficult. Finally, the forms that we had signed were found and the money was returned to her account. A couple of days later I paid the negative balance at the bank and closed my account. A couple of days ago I opened another separate individual checking account at the same bank. Now there is a credit from the bank for the same amount that they refunded to my partner. Now she is distraught and is afraid they are going to do the same thing they did before and withdraw the funds from her account. Would it be legal for them to withdraw the funds out of my account after the bank error in my favor was deposited? Was it legal for the bank to withdraw the funds from my partner's unrelated individual checking account to begin with? Please help!


Asked on 10/06/05, 11:01 pm

1 Answer from Attorneys

David Anderson Anderson Business Law LLC

Re: Is it legal for my bank to take funds from an unrelated checking account.

How much is at stake? I need to review the bank accountholder agreement to advise you. It may be online and you can forward to me.

Call or e=mail for further assistance.

Read more
Answered on 10/06/05, 11:31 pm


Related Questions & Answers

More Banking Law questions and answers in Georgia