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Now illegal withdraw savings accounts

 
Posts: 1400
Location: Verde Valley, AZ.
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6 withdrawls a month limit.
Then charged with NSF fee, and withdrawl declined.

https://www.ttcu.com/ASP/legal.asp

http://www.federalreserve.gov/bankinforeg/reghist.htm#D

Thanks Federal Reserve.....
 
steward
Posts: 7926
Location: Currently in Lake Stevens, WA. Home in Spokane
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Those restrictions are very limited. Only applies to limited kinds of transactions.

There still is NO LIMIT on withdrawls made in person.

NON REGULATED · Unlimited

· Any ATM Transactions
· Any In-person Transactions
· Any By-Mail Transactions
· Any Night Drop Transactions
· Transfers to pay loans at TTCU
· Withdrawals initiated by phone when a check is made payable to and mailed to the member
· Transfers to other deposit accounts via funds distribution if done the same day.




 
Posts: 222
Location: Douglas County OR
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Savings and money market accounts only, for what it's worth.
 
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have you see what is happening in Cyprus?

CYPRESS NATIONAL DEBT PER CITIZEN: $17,761
AMERICA’S NATIONAL DEBT PER CITIZEN: $187,837
 
Morgan Morrigan
Posts: 1400
Location: Verde Valley, AZ.
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This is actually to prevent an online drain of your savings account if hacked i think...

Still, if you put restrictions on withdrawls in place, and a mechanism to freeze accounts,it is an easy step to lock accounts down.
 
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" Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay."

Ellen Brown: The Confiscation Scheme Planned for US and UK Depositors

The point of this quote is that few people realize,banks hold a small amount of cash. I don't remember the stipulations for the amounts. Hopefully most permies who have bank accounts,have them with the smaller local banks or credit unions.
 
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