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View Full Version : can my bank transfer money from one account to another without my knowledge?

kylet247
10-17-2007, 06:18 PM
I bank with TCF bank (Twin Cities Federal), we had an account closed this summer due to fraud. they told us to open a new account, but we couldn't close the other one yet in case more things came through. Needless to say, it went some $900.00 negative. recently they withdrew $730 from my new account and transfered it to the negative balance account. is this legal??
halestrm
10-17-2007, 06:22 PM
Did the $900 need to be paid? Were they legit charges? If so, you are responsible for those charges, so they collected the funds. Yes, they can take the money.
stan c
10-17-2007, 06:51 PM
If they are not your charges, they must refund the funds to you. . If they refuse to do so, tell them you will notify the Banking Commissioner in regards to this matter. I would also notify Trans Union Fraud Dept toll free @ 1 800 680 7289. They will notify the other bureaus for you at no charge. Better safe than sorry later.
liwen_bonita
10-17-2007, 07:20 PM
If after their investigation that there is no fraud and you are the one who owe money, then yes, they can do that. Read your bank disclosures.
sestud69
10-17-2007, 07:53 PM
Yes it is. Becasue if your account went negative, for whatever reason and you wanted that account to be closed, the Deposit Operations Representative at your bank had to bring the balance back to zero. So if they took $730 to cover the fees associated with that negative balance, to close out the account, then that is legal. It would have been nice if they sent a letter advising you of this.

There is nothing you can do. -You might want to go to your local branch and speak to a branch representative and maybe he/she can call the Deposit Operations Dept. to lower some fees but it sounds like a losing battle because you decided to leave the account opened.

Big mistake to leave the account opened. The minute you suspect fraud, the account has to be closed immediately- regardless of any automatic deposits or withdrawals that were set up on the account. Even if a check was written and had not cleared the account still should have been closed-Those could have been re-routed to come in/out from another account.