Banks like Chase and Bank of America can legally seize money from your checking account to cover credit card debt through something called the right of offset. Nick Perry says they're taking anywhere from $1,000 to $100,000 monthly without asking. Keep your savings and credit accounts at different banks to protect yourself.
Never ever put money in your bank account before you know this one thing. Otherwise, your bank could legally steal anywhere from $1,000 to $100,000 per month from you. Here's how. See, banks like Chase, Bank of America, Wells Fargo, and Navy Federal have been losing a lot of money thanks to the state of the economy. So they're trying their best to win it back by using this legal loophole called the right of offset. This means that they can take the money from your checking account and use it to pay off debt on your credit line without asking you. If you want to avoid this from happening, then don't store your money and borrow your money in the same bank. Instead, make one bank your savings bank and another bank your borrowing bank. And remember to send this to your friends and family because
