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set-off

If one has an incorporated business bank account with a bank, and is a (never used)supplementary cardholder of a personal credit card account of a bankrupt, issued by the same bank, does that bank have any legal right to access funds in the business account?

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One Response to “set-off”

Barton Goth GCO Bankruptcy Trustees said...

If this account is held in the business name and you only have a supplementary card that is issued in your personal name then you do not have to worry about the bank exercising the right of set-off.