• Post Reply Bookmark Topic Watch Topic
  • New Topic
permaculture forums growies critters building homesteading energy monies living kitchen purity ungarbage community wilderness fiber arts art permaculture artisans regional education experiences global resources the cider press projects digital market permies.com all forums
this forum made possible by our volunteer staff, including ...
master stewards:
  • Nicole Alderman
  • raven ranson
  • paul wheaton
  • Jocelyn Campbell
  • Julia Winter
stewards:
  • Burra Maluca
  • Devaka Cooray
  • Bill Erickson
garden masters:
  • Joylynn Hardesty
  • Bryant RedHawk
  • Mike Jay
gardeners:
  • Joseph Lofthouse
  • Dan Boone
  • Daron Williams

Now illegal withdraw savings accounts  RSS feed

 
Posts: 1400
Location: Verde Valley, AZ.
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
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: 8019
Location: Currently in Lake Stevens, WA. Home in Spokane
299
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
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: 215
Location: Douglas County OR
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Savings and money market accounts only, for what it's worth.
 
Posts: 40
2
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
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.
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator


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.
 
Posts: 81
9
  • Likes 1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
" 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.
 
Fire me boy! Cool, soothing, shameless self promotion:
five days of natural building (wofati and cob) and rocket cooktop oct 8-12, 2018
https://permies.com/t/92034/permaculture-projects/days-natural-building-wofati-cob
  • Post Reply Bookmark Topic Watch Topic
  • New Topic
Boost this thread!