Credit Card
Querist :
Anonymous
(Querist) 09 December 2010
This query is : Resolved
Dear Sir,
I have a joint account with my father in ICICI Bank.
Bank has deducted certain amount from said joint account showing the amount was due from my father for his alleged credit card dues.
My question is whether bank can do so as I am not a party to the said alleged credit card,more so is'nt it the duty of the bank to approach my father for his default, if any ,and not to penalise me.
Thanks in advance.
R.Ramachandran
(Expert) 09 December 2010
No, bank is right. It is for you to take up with your father why did he incur any expenditure on the credit card without your permission. In any case, if you find that your father is acting against your interests or holding a joint account with him is not in your interests, it is for you to close the joint account and to open an independent account. There is no provision that a joint account holder cannot have a credit card. Once the credit card is linked to a joint account, the bank can debit the said account against the credit card dues. By debiting the account the bank is not penalising anybody much less you. In any case, if your father withdraws any amount from the joint account, how the bank will come to know whether he is drawing from his share or your share. Bank is lease bothered about individual share in the joint account. As far as the bank is concerned it is an account, a joint account, operable by two persons. That is all.
malipeddi jaggarao
(Expert) 09 December 2010
Bank has the right of set-off and appropriation even in case of joint accounts also. If the amount is totally of yours, you should maintain a separate account.
