Dec 5 2014, 08:14 AM
QUOTE(Eyda319 @ Dec 1 2014, 03:02 PM)
Hi, I have a question. I have 2 months outstanding loan from easy rhb. Does rhb has the right to suspend my rhb saving account because of that? Fyi, my payroll is bank in into my rhb account. Now I cannot do any transactions, and when I called them it will take 3 days to activate after they deduct the outstanding loan. Appreaciate if anyone knows about this.thanks
Yes, there is a standard clause called Right of Set offHence, I never keep my FD and investment accounts where I have many loans and CC.
To add, right of Set off means that the bank is entitled to deduct monies from other account maintain by the customer to recover (set off) and loans owed by the said customers.
It is a standard clause for all CC, loans, Housing Loans, P Loans, etc.
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This post has been edited by cfa28: Dec 5 2014, 08:20 AM
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