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View Full Version : Do/Can banks report personal account balances?



rinny
01-14-2013, 05:30 PM
I'm wondering if banks can report personal bank balances, specifically with regards to student loans. I would assume there's a form with student loans that gives "the man" the permission to find out, I just wonder how they do this?

Banks dont regularly report to some system, how does "the man" query a bank to find out how much a person has as a balance?

sabad66
01-14-2013, 05:42 PM
Student finance can audit you... Basically they ask for your past few months bank statements, and verify it matches up to what you reported. It's happened to me before, but I had nothing to hide so I was fine.

Not sure if they would go directly to your bank to get this.