US Bank can withdraw funds from your US Bank checking account (also affiliate companys) to make payments on your US Bank credit card without your permission. Here is a letter I received from US Bank via UPS overnight mail:
Due to the continued delinquency of the above-referenced Business Card account and your refusal to acknowledge our collection efforts, please be advised that we will be withdrawing $1002.00 from the above referenced savings/checking account and applying this amount as payment on your Business Card account. We regret having to take this action, however, you failed to make on-time payments on the above-referenced Business Card account pursuant to the terms of your Cardmember agreement.in the event you should have any questions, please contact our Collection department at 1 866-790-5371. Sincerely Micheal Vail Cardmember Services.
And I thought only the IRS could take money from your account without your permission? The small print in your card member agreement book (And I do mean BOOK) states they have this right. Small business people beware and read the fine print! My greatest fear was terrorists up until this experience.
Ron
St. Peters, Missouri
U.S.A.
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