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Home >> Special Situations >> Foreign Customers
Offsets and Bank Mergers
I owe money on Halifax credit cards, but my bank account is with Lloydstsb. When Lloyds join Halifax, can they take money from my account without my permission?
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 We really aren't able to provide an answer to most questions that involve UK banking procedures, regulations or laws, since we are located in the US, and our experience and training are from US banks. Presuming that offset, which has its origins in common law in the US, is a facet of UK banking experience, too, in the US, it is illegal to offset a consumer's bank account against a credit card balance, absent specific authorization from the consumer.
Published on BankingQuestions.com 10/20/08
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