Thread: Set-Off question

I've heard some really bad stories about people who have a current account with a bank and owe the same bank money, having their current account 'raided' by the bank to pay off the debt owed by the customer to the bank, leaving ppl unable to live. Apparenlty its allowed, it's in the T&C

I have a question about this practice. I bank with the Abbey, however I am in debt to Cahoot, Cahoot are part of the same banking group as Abbey. Does that mean that Cahoot can get to my money in my Abbey account. I changed to Abbey 3 years ago, cos I do not owe them any money.

Ta

Originally Posted by balster

I've heard some really bad stories about people who have a current account with a bank and owe the same bank money, having their current account 'raided' by the bank to pay off the debt owed by the customer to the bank, leaving ppl unable to live. Apparenlty its allowed, it's in the T&C

I have a question about this practice. I bank with the Abbey, however I am in debt to Cahoot, Cahoot are part of the same banking group as Abbey. Does that mean that Cahoot can get to my money in my Abbey account. I changed to Abbey 3 years ago, cos I do not owe them any money.

Ta

I don't think they can because as such the account is with cahoot. I know if it was abbey savings and abbey personal current account then yes however, crossing banks within a group of companies is a No.

Cheers