My son's account was closed because it had a negative balance for over a month. I have an account at the same bank. I added my son and my parents as authorized signers on the account. I am not listed as a signer on his account. Regarding my account, they are merely signers, it is not a joint account. Without contacting me, the bank removed money from my account and applied it to his account in order to bring it to a zero balance. Do they have the authority to take these funds from my account without my knowledge or consent?
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It seems that the bank exceeded its authority. Unless there are very strange provisions in the applicable state law or the deposit contracts, an non-owner signer on a deposit account does not assume liability for the account or for obligations of the owners.
It seems the bank has made a mistake. It's possible that the accounts in question are incorrectly set up on the bank's books and someone made the transfer in good faith based on erroneous information. It's also possible that someone without appropriate training made the transfer, without realizing there was no legal basis for it.
Push for a refund of your money.
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It seems that the bank exceeded its authority. Unless there are very strange provisions in the applicable state law or the 