Sad story of money laundering
A banker can 'consolidate' the accounts owned by a customer in his own name, whether in the same branch or not unless precluded by agreement (express or implied) from the course of business from doing so. However, where a banker opens two accounts for a customer, one in the customer’s own name and the other in a business name or in the name of an incorporated body under his control; the banker cannot consolidate without agreement. However it has been a mergence uscruptulous act towards this individual. Consolidation of account is usually necessitated when you are owing your bank in one account and you have money in another account with the same bank. Where permitted; they will use the money in one account to offset your debt in the other account. Consolidation' means merging of two or more accounts of a customer. 'A banker' in law means the bank itself and not a worker in a bank. You can owe them in different ways: 1. Overdrawing your account (overdraft); 2
