What happens when banks merge if I have arrears with one and cash in the other?

K

Kerrigan

Registered User
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If a customer owes money, lets say to bank X, and subsequently has their account closed.

They then open a new account and move whatever money they have to bank Y.

X & Y merges - can X then help themselves to whatever money they were origionally owed.

This is not me but somebody I know, who is currently dealing with their debts with the help of mabs. They have a few hundred euro in a current account to pay their debts, over the next couple of months, but are worried the mony could be taken.
 
Let's say AIB and EBS.

you owe the money to EBS and are refusing to pay it for some reason, although you have cash.

AIB takes over EBS. I doubt if AIB can move the money from the AIB account to EBS to clear the debt.

However, the credit control people in EBS may well check the AIB accounts and they will know that you have cash and maybe that you have been misleading them all along about your inability to pay.

Brendan
 
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