kyounge1956
Thinks s/he gets paid by the post
- Joined
- Sep 11, 2008
- Messages
- 2,171
Last weekend while balancing my bank accounts, I noticed a $1 "excessive transactions" fee on my savings account. I had transferred money from my savings account, to my checking account at the same bank, four times during the statement period. I called the customer service line to ask them about it, and the rep I talked to said there is a limit of three times/statement on moving money out of a savings account. I asked why, and he said it was because of Federal regulations. I had never heard of any such rule, and frankly, it sounds like a bunch of baloney to me.
Does anyone know for sure whether there is or isn't any such regulation?
Does anyone know for sure whether there is or isn't any such regulation?