Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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cltinspring
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Neno
9 posters

    Got this from my Bank today....

    Neno
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    Post by Neno Tue 26 Nov 2013, 4:58 pm

    First topic message reminder :

    ...even tho I knew it and do move monies around from time to time, I thought it would be cool to show how un cool a bank is... ;)

    This is a non-commercial message sent to you by Wells Fargo as part of your account relationship.
    Got this from my Bank today.... - Page 2 Header_spacer_571x21
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    Please add Wells Fargo to your email address book.
    wellsfargo.com     |     Consumer Deposits     |     Prevent Fraud
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    Learn about transfer limits from savings
     
    Got this from my Bank today.... - Page 2 Wf_ra_red_bullet_13x14 Learn More
     

    Dear Valued Customer,
     
    We want to make sure you understand that a federal rule (Regulation D) limits transfers from your savings account to a total of six (6) per monthly statement period. To help you stay within the limit please keep in mind

       
    • Certain types of transfers from a savings account are limited to six (6) per monthly statement period — including transfers through online banking (including mobile and text), by telephone (automated and banker assisted) or for overdraft protection coverage.
       
    • If the federal transfer limit of six (6) is reached — transfers from savings accounts through online banking (including mobile and text) or the telephone may be declined for the remainder of the monthly statement period.
       
    • If the six (6) transfers per monthly statement period are exceeded — an excess activity fee of $15 for transactions over the limit will be assessed. If the limit is exceeded on more than an occasional basis, the savings account must be converted to a checking account, which doesn't have any transaction limits, or closed.
    [color][font]
     
    If you need to make more than six (6) transfers in a month, simply visit a Wells Fargo ATM or banking location, because there is no federal limit for in-person transfers or withdrawals.
     
    [/font][/color]
    Got this from my Bank today.... - Page 2 Wf_ra_spacer_5x5
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    [color][font]
     
    Questions? Talk with a local Wells Fargo banker or visit us. [/font][/color]
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    Steven527
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    Post by Steven527 Tue 26 Nov 2013, 7:47 pm

    Federal law prohibits more than 6 withdrawal transactions from a savings account per month.  You may deposit as often as you wish into a savings account.
    Neno
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    Post by Neno Tue 26 Nov 2013, 7:53 pm

    Steven527 wrote:Federal law prohibits more than 6 withdrawal transactions from a savings account per month.  You may deposit as often as you wish into a savings account.
    Imagine that... ;)
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    Steven527
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    Post by Steven527 Tue 26 Nov 2013, 8:00 pm

    The regulation probably has to to with Basal III rules governing how much a bank can lend vs how much assets the bank has.   Savings accounts are intended to grow in size unlike a checking account which is more fluid and fluctuates in size.
    Neno
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    Post by Neno Tue 26 Nov 2013, 8:13 pm

    Steven527 wrote:The regulation probably has to to with Basal III rules governing how much a bank can lend vs how much assets the bank has.   Savings accounts are intended to grow in size unlike a checking account which is more fluid and fluctuates in size.
    Makes total sense. Has as in your money being ruled by them. Hello investments, safes and uzies... ;)
    mitymike
    mitymike
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    Post by mitymike Tue 26 Nov 2013, 9:08 pm

    Transfers is one account to another. You could withdraw as many times as you like. I got this letter about a month ago.
    Screwball
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    Post by Screwball Tue 26 Nov 2013, 9:34 pm

    Steven527 wrote:The regulation probably has to to with Basal III rules governing how much a bank can lend vs how much assets the bank has.   Savings accounts are intended to grow in size unlike a checking account which is more fluid and fluctuates in size.
    stops them lending beyond their means! and those that dont meet basil could end up with a bail in like greece!
    Neno
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    Post by Neno Wed 27 Nov 2013, 4:50 am

    mitymike wrote:Transfers is one account to another. You could withdraw as many times as you like. I got this letter about a month ago.
    Oops, totally miss that but still... lol!
    Bama Diva
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    Post by Bama Diva Wed 27 Nov 2013, 9:10 am

    Steven527 wrote:Federal law prohibits more than 6 withdrawal transactions from a savings account per month.  You may deposit as often as you wish into a savings account.
    I wonder why this law exists? Has it always been the law or did Dodd-Frank establish it?
    elandur
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    Post by elandur Fri 29 Nov 2013, 7:56 pm

    Not sure where this law/regulation came from originally - but it has been around for awhile.  Ran afoul of it myself several years back.  Probably another "good intentioned" rule the feds came up with to protect us from ourselves.  I think it has something to do with keeping people from using savings accounts as checking accounts, since savings accounts usually pay more interest than checking accounts do.

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