[tomakaze]

re:The main reason is because of the way they classify accounts. Some are savings, some are checking, some are money market, all have different rules and regulations. You would have to ask a government goof why they like to keep all these things separate, but if you follow the money and favors from government outwards and see who benefits you will have a better idea.
 
From what I've scanned so far, what I'm getting is this is all to make some government snoop/bean counter's job easier. Great. just who works for who? damn.

[HiJinx]

It actually goes deeper. Read Tom Clancy's new book, Teeth of the Tiger. It's about a quasi-fed outfit tracking terrorist money in order to find the terrorists.

The trouble is that they make a heck of a lot more than 3-6 transfers per month. The rules are ratcheted down to the point that a lot of us are inconvenienced...

[Protagoras]

Great. just who works for who? damn.

We all work for, and at the pleasure of, government.

[DB]

As others stated above, my guess is it is to prevent interest bearing savings accounts from being used as checking accounts directly.

[Soulfull]

Some years ago the Feds came up with a non-transaction high interest money market account. Financial instutions could offer it and not have to reserve on the balance. (Reserves are required on transaction accounts, up to 6%, held in sterile accounts at the Fed) Some FIs police the accounts, some don't. Reserving costs a lot of money