This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthor

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Savings Account
Savings Account

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!!! Overview
[{$pagename}] is a [Transaction Account] but not a [Demand Deposit Account]
!! [Federal Reserve Board of Governors]
defines a [{$pagename}] in Sec. 204.2(d)(1) of Regulation D ([FRB]).
* The [Account owner] is permitted to make up to 6 pre-authorized transfers or withdrawals (excluding withdrawals via an [Automated Teller Machine]) per month or a statement cycle of at least four weeks.
* There is no regulation limiting number of deposits into the account.
* Violations often involve a service charge, usually $10 per transaction, or even a downgrade of the account to a [checking account|Demand Deposit Account].
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop