Sunday, December 4, 2011

Can a bank transfer an amount from a current account to a loan account without debitting the customers account?

No.It is not possible. Bank has to debit your current account and credit the same to your loan account. Please check up. also give us full details to have more clarity.|||No - although the transfer may seem 'instant', it's not ...





FIRST they Debit the current account - this step could fail, if for example, you have insufficient funds.





(Next, if the money is going outside the bank, they hang onto it for a few days ...)





Finally, they Credit the Savings account.





If money appears in your savings w/o a debit on your current, then they have made a mistake and the money has come from some other poor suckers account .. don't worry, when they find out they will reverse the transaction..|||No, because then they would be giving you free money, which banks don't do.

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