To: Bikers4Bush; tomakaze
What I'm posting is what I'm finding on the Internet; I'm not a banker or employed in that field. That said, here's yet another bank, with a bit more info. (it appears that the regulation is applied to interest-bearing accounts, not the type of institution in which the funds are held):
Federal regulations limit the amount of transactions on interest bearing accounts to six per month,
with no more than three of those from a check. Excessive withdrawals may result in closure of the
account.
https://valleybankandtrust.com/personal_products.htm
50 posted on
12/31/2003 7:24:04 AM PST by
nicmarlo
To: nicmarlo
We need to find out whotf is responsible for this crap.
53 posted on
12/31/2003 7:26:09 AM PST by
Bikers4Bush
(Bush and Co. are quickly convincing me that the Constitution Party is our only hope.)
To: nicmarlo
Federal regulations limit the amount of transactions on interest bearing accounts to six per month, with no more than three of those from a check. Excessive withdrawals may result in closure of the account.
When did this little tidbit come into effect.
My old MM account had a limit of three transactions per month, which was great for the reason I was using it, but it could be a pain.
I would love to know the answer to why regular savings accounts have any sorts of restrictions like this.
96 posted on
12/31/2003 8:28:56 AM PST by
Desdemona
(Kempis' Imitation of Christ on-line! http://www.leaderu.com/cyber/books/imitation/imitation.html)
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