I have fallen on difficult times financially and have not been able to make my credit card payments. Capital One calls me 10 times a day, I dont take their calls. I had just enough money in my checking account to eat this month. I looked at my bank account yesterday and realized that Cap One collections drafted my account for $272. I had given them my checking acct info several months back to make a payment over the phone, but I in no way authorized them to draft my acct this time. My bank tells me that they can do this, but I can't believe this is legal. Any advise?
Is your bank affiliated with Cap One? Some CC contracts allow a bank to draw funds from other accounts you have with them to cover your liabilities to them. They may have the information and be technically able to do the transfer, but if you did not authorize it, they have no legal right to do it.
Re: Capital One unauthorized bank d Unless, like the other poster stated, the bank you have your account in is associated with Cap One and they have something in the original contract allowing them to do the draft . . . Cap One broke the law! The only legal way that they are supposed to be able to take money from your bank account is if they have sued you, won a judgement, and filed a writ with the local courts to remove money from your bank account. I'm assuming that your account is only a few months behind, because in your post you stated that you gave them your checking account info a few months back. I say sue the cr#p out of them.
