I have a commercial loan with a bank. They have tagged my personal account if I do not pay the loan. If I transfer my money from this account to an account at a different bank will they still be able to access my funds?
If you have a debt at Bank A and a deposit account at the same bank, they may execute what is known as the right of setoff if that debt is past due. That means they can go to the deposit and take funds to pay the debt. If your deposit account is at another bank, the only way they can access those funds is through a court.
If you have a commercial loan, you could have a loan agreement requiring the deposit account to be maintained there. Also, when you have a deposit account at the same bank where you are requesting a loan, your application may be treated more favorably because of this and the cost of the loan be lowered.
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If you have a debt at Bank A and a deposit account at the same bank, they may execute what is known as the right of setoff if that debt is past due. That means they can go to the 