Is a bank allowed to debit money from your account without notifying you first?

sorry in the case i side with the bank -- after all when they first reported the 75 dollar credit you should have said "hey this is not my money and they will come for it" than you would not have these nsf fees!!!!
Is a bank allowed to debit money from your account without notifying you first?
Yes.





In the event of an overdraft fee or other bank related fee they will deduct the money due to them but them notify you by mail of their actions.
Reply:Yes and No. If it is an NSF fee or maintence fee then no. They will usually send a statement if you have repeat NSF fees. Now if it is a teller error which it sounds like in your case then yes. The money was credited because the deposit was thought to be more. Odds are the bank branch did this. The deposit then went to a proof dept (2nd checking dept) and they had what you originally put. So they took the money back out and should be or have sent a letter or notification.
Reply:Depends what it's for. If it's a fee that the bank is charging you... like an overdraft fee, or monthly maintenance fee, then yes. If the deduction was for another company, then yes, they have to have your permission to do so.
Reply:no they are not





did this happen to you? better ask them the reason why they did that.





most probably, it is stipulated in the bank agreement you signed when you opened the account and you just overlooked that detail





for example, in my bank, if you go below the maintaining balance, they would penalize you with a fee... this occurs automatically because they assume that i know this regulation when i signed the bank agreement when i opened my account in there





Fitz


http://readytoberich.blogspot.com