Question by pugmom: if you have two personal checking accounts and one is overdrawn, can the bank just take that money?
from your other account without telling you.
Best answer:
Answer by Tutsi
if they are linked together, jyes, they will charge you overdraft protection fee that usually 10$ /transaction at least in my bank. If they are not, i think you are safe
Know better? Leave your own answer in the comments!
No, unless you linked the accounts as overdraft protection.
And why would they, when they can charge up $ 39 or so each time you overdraw?
Yes, it is called the right to offset. It is probably listed in the disclosures you received when the account was first opened. They usually won’t until the account has been overdrawn for a while and would otherwise be charged off.
they can and will, AFTER the continuing overdraft charges to the first account take it into a greatly-overdrawn status. transfer funds yourself NOW to stop the bleeding.
the bank will probably not automatically do an inter-account transfer for you. why should they? they love adding on those fees.