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Author
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Topic: Online banking gov. transfer limit?
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mikeP
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Member # 4489
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posted
 
 
Anyone got hit with a transfer limit online? So they are telling me I have had to many transfers online in 1 month so im getting hit with a penalty and its not the bank its the gov. regulation thats doing this? So basically my own money is being regulated and being unaware of this limit shit, i get a penalty taken out of my account? WTF? Chase it the bank btw...Grr man i just felt i got a pickpocketed!!!
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91 vert lx 5.0, 68 CS, 69 BB nova
Posts: 975 | Registered: May 2004
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5.0_707
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Member # 5893
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posted
I don't think this is new...?
My bank has been like this for some time now, they allow 5 transfers a month before u get the overdraft charge. I felt the same way when I seen a few charges n knew I had funds in the savings. The chick at the bank said it was a govt thing.
Posts: 888 | From: 707 | Registered: Aug 2005
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Javier
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Member # 547
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posted
I might be wrong but I think its only when you move money out of your savings. On checking accounts i dont think theirs a limit....
Posts: 1147 | From: Bay Area | Registered: Nov 2001
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5.0_707
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Member # 5893
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posted
My deal was I would make purchases with my debt card n there wouldn't be enough in the checking acct to cover, and since I had over draft protection they would pull from savings to cover it. Once I hit the monthly limit on transfers they would charge my the fee.
Posts: 888 | From: 707 | Registered: Aug 2005
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Javier
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Member # 547
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posted
That blows. Kinda takes away the perpose of overdraft protection if you get screwed anyways.
Posts: 1147 | From: Bay Area | Registered: Nov 2001
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mikeP
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Member # 4489
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posted
quote:
Originally posted by javier:
I might be wrong but I think its only when you move money out of your savings. On checking accounts i dont think theirs a limit....
now that i think about it i think your right...grr ive done this many of times with my checking over and over and no charge. i do it with my savings and get penalized...its pretty fuked up when your unaware..you would think there would be some kind of window that pops up alerting you "you are about to go over the transfer limit" or something....anyways thanks for the info...
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91 vert lx 5.0, 68 CS, 69 BB nova
Posts: 975 | Registered: May 2004
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adower
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Member # 5955
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posted
quote:
Originally posted by mikeP:
Anyone got hit with a transfer limit online? So they are telling me I have had to many transfers online in 1 month so im getting hit with a penalty and its not the bank its the gov. regulation thats doing this? So basically my own money is being regulated and being unaware of this limit shit, i get a penalty taken out of my account? WTF? Chase it the bank btw...Grr man i just felt i got a pickpocketed!!!
Its a fed law. You can only xfer like 5 times.
[ December 03, 2009, 02:42 AM: Message edited by: adower ]
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98 Cobra
Griggs
S Trim
HRE
Posts: 3327 | Registered: Aug 2005
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FoX GT
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Member # 4587
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posted
yep savings account only. switch to checking, no point to have a savings account anymore. 0.01% interest.
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- AED -
03 Cobra 10th anni 3.4 Whipple 9.47@141
2012 Mustang GT 10.98@125
2015 Mustang GT
Bring what you got and hope its enough!
Posts: 1955 | From: East bay | Registered: Jun 2004
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SheerSliver03
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Member # 6589
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posted
quote:
Originally posted by FoX GT:
yep savings account only. switch to checking, no point to have a savings account anymore. 0.01% interest.
very true, when i first got mine about 5 years ago it was a 1% interest. now its like this:
(from yahoo.com)
Savings Type Today Last Week
6 month CD 1.06% 1.10%
1 year CD 1.54% 1.58%
3 year CD 2.19% 2.22%
MMA 0.96% 1.01%
$10K MMA 1.03% 1.09%
$25K MMA 1.24% 1.30%
I cant imagine that many people are even trying to invest in these banks now adays
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2003 Altima SE
1970 Mustang Coupe *Sold
Posts: 641 | From: elk grove | Registered: Mar 2006
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BlowN67
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Member # 4229
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posted
yes its a stupid $12 fee my wife bitched about one we got an they sais they couldnt do it but some how we got $12 back in our account. i knew i married her for a reason. lol
they also said if it happens more an more they'll turn it into a checking account. wow didnt know i was making so much off a .001% savings account to get penalized for moving money around so we dont get a $35 over drafted charged. so i bet soon we'll just change it to a checking account. i thknk we made like $1.14 in intrest on that account for the year woot hella money. banks are gay.
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AIM gonein67 JOHN
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Posts: 9809 | From: Home of LARD | Registered: Mar 2004
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