I just called my bank to see why I was charged a transaction fee and they told me that I could not have more than 4 transactions per month or my account may be closed. They said this was a Federal Government rule. WHAT, I never heard of such a thing. Do any of you know about this?
menc
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Re: NWR: Savings Account Question
Thank you, I guess I can see why they (the government) has to do this, now that we live in a world with a lot of sketchy people. I think I may switch back to doing it online, they have better rates anyway.
klanghan
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Re: NWR: Savings Account Question
that sounds weird.. . .i'd check on it
Summer07Bride
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Re: NWR: Savings Account Question
Bank of America did that to me after 3!!! I was fuming! I immediately called them and had them explain to me this absurd policy. Apparently the US government only allows you to take out 'x' amount of times and in order to stop you from withdrawing too many times they charge you a fee. I told them it is ridiculous to charge us and that when we get to the max then they should just not let us take out anymore money. Needless to say they gave me back the fee.
Summer07Bride
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Re: NWR: Savings Account Question
Posted by KiTTeN0819
My bank will let you deposit to your hearts content, but i think im only allowed 6 withdrawals from my savings before I get charged.. I think the fee is only 3 bucks though..
3 dollars from millions of people who do not know about the policy is millions of dollars.
DrWho
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Re: NWR: Savings Account Question
This is why I love credit unions. No minimums, no fees, phone and online banking, late hours, and I can go to one shared branch and bank with two different credit unions.
FuTuRe MrS MaZz
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Re: NWR: Savings Account Question
Posted by HotAir
Posted by FuTuRe MrS MaZz
Posted by mishi205
Posted by FuTuRe MrS MaZz
Do all of you have a regular savings account? Is this why??? I have an online only account with a great rate and never got a fee for anything!
Just curious, how do u withdraw if you ever need to? Which bank is this? I have used Netbank before - wondering if it's the same.
HSBC - 5.05% APR - You can withdraw from an ATM or you can transfer funds from savings to checking through their website... Just cant deposit or withdraw using the teller
Are you sure you can't use a teller because have that same account and I think I can go to a teller...although I never do.
I never tried to use the teller either, but I rem hearing that they can give you such great rates because they cut out the middle man (aka the teller) It makes sense!