Withdrawals/Transfers from savings accts...

[KFC911]

Who knew there was a limit of 6 per month...I sure didn't.
Just eliminated btw...live & learn...

[GH85Carrera]

Really? Amazing.

I can't image they can keep you from withdrawing your own money. I would be tempted to call them and do one last transfer of all the money to a new credit union. Banks suck.

We have to use a bank as a business. My personal money at a credit union.

[Sooner or later]

I didn't. Looks like a FDIC requirement.

[KFC911]

Originally Posted by Sooner or later

I didn't. Looks like a FDIC requirement.

Yep...now removed.

[Sooner or later]

Originally Posted by KC911

Yep...now removed.

Looks like it expired March 2020

[cabmandone]

I haven't had a "savings account" in a few decades. Never really saw an upside to is versus an interest bearing checking account.

[stevej37]

In the late 60's, as a teenager, I had a bank account of my own with about $30 in it. In those days they only updated your acct when you brought in your passbook. I decided to just leave the money alone when I got my first job and used a credit union.
After about 5 years, I went back to withdraw the money and interest earned.
The clerk came back with my passbook and told me the money was gone...they withdrew a fee each month for being inactive for over 30 days.
I never went back there again.

[KFC911]

Originally Posted by cabmando

I haven't had a "savings account" in a few decades. Never really saw an upside to is versus an interest bearing checking account.

I've always had both...and transferred $ to savings just to keep it out of checking. It really mattered back when debit cards first appeared too...not now. If it's in my checking....it won't be soon enough....FREE $

[GH85Carrera]

When I first moved to town I picked a bank only by how close the branch was to me. I would bring in my paycheck to deposit most of it, and get cash to use as my budget for the grocery shopping and such. In the era long before the internet or ATM cards or any electronic banking.

One day I needed more cash and went to write a check and they would not give me my own money. I pretty much made a scene and the manager came over and decided to let me have my own money. I never did hear a valid reason why the teller did not do it in the first place. I decided that was it for that bank. I went to a new bank, and wrote a check that was going to leave $5 bucks in the old bank. They sent me statements for a year, and charged fees to make it go negative. They finally closed the account and I never went back.

My business account has no fees at all. We do have a savings account that we dubbed the "engine fund" for the day the airplane engine has to be replaced. It makes a little bit of interest but not much. My credit union pay me more interest on ly checking account that the saving account. They require a savings account so I have a few hundred in it, but more in checking only because it pays way more interest.

[KFC911]

Been with a CU for 25 years....I keep $ out of checking for safety reasons now.

I'll spend it

[stevej37]

Originally Posted by cabmando

I haven't had a "savings account" in a few decades. Never really saw an upside to is versus an interest bearing checking account.

The CU I deal with pays twice the interest on savings than interest bearing checking.
Twice the rate..is still not much.

[wdfifteen]

Originally Posted by KC911

Who knew there was a limit of 6 per month...I sure didn't.
Just eliminated btw...live & learn...

It's an FDIC requirement. Eliminated? Good to know, I guess.

[KFC911]

I was surprised to learn there was such a rule. When working....I hit the ATM machine just about every day....my whole corporate career...obviously it was out of checking