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Does the Credit Card Dept have the right to hold the amount in our personal bank account without our knowledge?

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asked on Oct 18, 2018 at 11:40
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edited on Nov 8, 2018 at 23:12
 
The credit control department officer called on Wednesday. Since, we are in the final stage of AKPK application, we said we will get back to them on Friday. This morning our bank account branch officer called and informed us that our bank cheque couldn't be processed due to insufficient funds. But to our knowledge, our account has more than enough to be drawn.

After we called the credit control department, then only we realized that they were holding the funds from our personal bank account. And we didn't even receive any SMS notifications or phone calls.

The excuse given, their system was down, so SMS was not being sent out. After I ended my conversation with them, then only I received the SMS notification.

My question is:

Does the collection department have the RIGHT to HOLD our money without owner's knowledge?
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answered on Oct 18, 2018 at 12:15
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edited Nov 8, 2018 at 23:13
 
The answer to your question above lies in what you have signed in the application form when you open a current account and credit card account.
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