skip to Main Content
Tel: 0861 100 999 | Mission Control - Login

Can a Bank Threaten My Account

Questions & AnswersCan a Bank Threaten My Account
ridwaan davids asked 2 years ago

I am under debt review and my DC advised me to close my overdraft account.  Now the bank is threatening me. if I close the account. Can they do it?

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,

Thank you for getting in touch.

The reason for the DC instructing you to close the bank account is to prevent the bank from doing money grabs from your account.

You should open a new bank account with a bank at which you do not owe any money.

The overdraft cannot be closed. The DC will negotiate with the bank for a repayment plan on the overdraft account. The account will simply be de-activated so you cannot make use of the overdraft anymore.

Remember to change your bank account number with your HR department to make sure your salary gets paid into the new account.

Kind regards