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To: NukeMan
I guess that's the price of using a Credit Union...
20 posted on 12/31/2003 7:07:58 AM PST by DB (©)
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To: DB
I guess that's the price of using a Credit Union...

I use a credit union also, but prior to that I used a Big Bank and it had the same limit on the number of withdrawls on a money market account.

I can do as many electronic transfers from my money market to my checking account as I want, but I can only make 6 cash withdrawls and/or write 6 checks on it a month. So I always write checks out of my checking account and transfer the money from the MM account afterward.

I remember being made aware of this limit back in the mid-80's when I opened the account at the Big Bank, so it has existed for a long time. These used to be called "NOW" accounts (Negotiable Order of Withdrawl).

A money market account is not a really a checking account, so it shouldn't be used as such.

74 posted on 12/31/2003 7:45:25 AM PST by Mannaggia l'America
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