Is it legal for banks to transfer money without account holder&#39;s permission
<p>Suppose someone takes a personal loan from a bank and defaults on a payment.</p>

<p>Can the bank unilaterally take money from other accounts he may have at that bank to make the required loan payments?</p>

<p>Can the bank take money from the accounts of blood relatives (e.g., spouse or child) to satisfy the loan?</p>

<blockquote>
  <p>Can the bank unilaterally take money from other accounts he may have at that bank to make the required loan payments?</p>
</blockquote>

<p>Unilaterally, no. However, there is probably a provision in the loan agreement which has <em>bi</em>laterally agreed to it.</p>

<blockquote>
  <p>Can the bank take money from the accounts of blood relatives (e.g., spouse or child) to satisfy the loan?</p>
</blockquote>

<p>Generally not. An exception may apply where the person has stood as a guarantor of the loan; again what they agreed to is in the guarantee document.</p>

united-states human-rights consumer-protection banking