HotKey Website Content Management
HotKey Wedsite Content Management

Design by OceanMedia.net
Austin, Texas Banking
Legal Department

Capitol Comments
Comment Letters
Compliance Bulletins
Consumer Credit
Late Charges & Fees
Late Charges & Fees Interpretive Letter
360 Day Calendar Interpretive Letter
Home Equity
Home Equity Q&A
Home Equity LOC Q&A
Interpretive Letter
Finance Commission Resources
Legal Ease
Payroll Liens
White Papers
Year End Checklist

Forums / Message Board

IBAT
1700 Rio Grande Street
Suite 100
Austin, TX 78701
Phone: 512-474-6889
Toll Free: 800-749-4228
Fax: 512-322-9004

Contact IBAT

This page was modified on 12/28/2007
Setoff - Overdraft
 
Question:  We have written off an overdrawn account.  The prior customer has brought in a check to cash.  Can we set it off?
 
Answer:  Not a great idea.  The theory behind setoff is that there must be a mutuality of indebtedness (you owe the customer, the customer owes you).  There is an Alabama case that arguably supports setoff, but I would not recommend the practice.

Home Advocacy Member Center IBAT Services Publications Store Learning Contact Us
Back to Top IBAT Privacy Policy IBAT Terms of Use Printable Version of this Page

web design by OceanMedia of Austin, Texas powered by HotKey hybrid