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Skip the Fees on Savings Transfers

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22.10.2020

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In the past, banks and credit unions were required by the Federal Reserve to limit withdrawals and transfers out of savings accounts and money market deposit accounts to six per month. Partly in response to the coronavirus crisis, the Federal Reserve recently revoked the rule. The Fed says that it does not plan to re­impose transaction limits.

Banks are not required to lift the transaction limits or stop charging fees for excessive transactions, which may run from about $3........

© Kiplinger


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