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Response to Northern Rock

from David J. Button (davidjohnbutton@supanet.com)
I think you will find, somewhere in the paperwork for one or both of the accounts, that there is a clause relating to "offset" which basically means that if you have an account that is overdrawn and a separate account with the same bank/BS that is in credit, the bank/BS can "offset" the overdrawn account with funds from the account which is in credit.

Best way forward is to ask how Northern Rock seek to have a legal right to do what they propose and let them quote you chapter and verse. I am 99% sure you will find them in the right so long as they have this type of clause in their general account conditions and it would be a poor bank that didn't!!

(posted 7197 days ago)

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