I have just recently found out my mum put a large amount of her money into one of my sisters accounts for her to look after. My sister has since told my mum that the bank took the money as they were having trouble paying their mortgage (they had an arrangement in place with the bank which they stuck to) my question is- is this possible?? I'm very suspicious and think that she has used the money herself. She has been able to go on holidays and buys things all the time, even though her husband is a deadbeat bum who is out of work more than he's in. I'm trying real hard not to dwell on it, so I just want to know- can the bank really take the money?
4 Replies
Yes it is possible for the bank to take it, but that all depends on circumstances. Like if you have an acc with just say commonwealth bank & have a few different accounts that branch of it, savings ect (within that same bank) if you owe money from that particular bank they can take it out of your acc. But that does sound a bit dodgy to me! I'd be asking (or your mum) for proof that this's what has happened! Cod if this is in fact what has happened it'll be on her bank statements ect. If she can't provide that proof I'd def say she spent it.
Wouldn't happen if they had an arrangement set up
It would & does happen. I know this as it happened to my father, it's crap ?
Yes they can and do! If your sister is behind in any payments with the same bank as her mortgage or credit cards/personal loans, even if there is a payment plan in place if there is a substantial amount of money in their account to cover the out standing amount they can and will take it unfortunately. Maybe if your mum can prove that the money was hers and meant to be in there as safe keeping until she needed it, the bank may refund the money. It's worth a try anyway.