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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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To: Mannaggia l'America
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.

Ohhh! Cash withdrawals! Yes I do have that limit! LOL what a stupid rule. All I do is transfer the required amount from savings to checking then withdraw the same amount from checking. One of the stupidest federal rules I have ran across.

78 posted on 12/31/2003 7:53:16 AM PST by ItsTheMediaStupid
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To: Mannaggia l'America
None of these stupid regulations kept Saddam Hussein from amassing BILLIONS in U.S. currency.

Clear evidence that these "rules" are not an impediment to the big boys.

At some point our government will claim they "knew" he had that money all along.

Saddam has $Billion$, and you and I can't go pay cash to buy a money order for $3K or more without disclosure to the Feds.

Something is very wrong with this picture.

86 posted on 12/31/2003 8:06:51 AM PST by skip2myloo
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