Yes. Banks can take money out of your account for several reasons including but not limited to the following:
- monthly service charges
- fees for check orders
- if you deposited a check from someone else that was returned for insufficient funds
- if you cashed a check for someone else by using your account and the check was invalid
- fees and penalties for the prior two examples
- fees and penalty charges for over drafts when you write checks for which you have no funds
- if you tied a loan to your account and missed a loan payment
- if you drop below the minimum balance of a minimum balance account
Generally, all the documents, applications and forms you sign when you open a bank account or apply for a loan give the bank the permission to do all of the above.
