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11/20/2019 5:07:11 PM
Posted: 10/28/2013 1:36:28 PM EST
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?
Link Posted: 10/28/2013 1:37:59 PM EST
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?
View Quote


I actually received something similar recently.

Did your account start off as a "student" savings account, by chance?
Link Posted: 10/28/2013 1:38:53 PM EST
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?
View Quote

It is only online with Citibank. I just use a teller or an ATM for transfers
Link Posted: 10/28/2013 1:40:24 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By borracho536:


I actually received something similar recently.

Did your account start off as a "student" savings account, by chance?
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Originally Posted By borracho536:
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?


I actually received something similar recently.

Did your account start off as a "student" savings account, by chance?


May have been, I opened in in 2005 when I was 13.
Link Posted: 10/28/2013 1:41:39 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dalyman72:


May have been, I opened in in 2005 when I was 13.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dalyman72:
Originally Posted By borracho536:
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?


I actually received something similar recently.

Did your account start off as a "student" savings account, by chance?


May have been, I opened in in 2005 when I was 13.

You should talk to them about it. Either way that's bullshit.
Link Posted: 10/28/2013 1:41:59 PM EST
I have USAA they told me same thing.
Link Posted: 10/28/2013 1:42:43 PM EST
Electronic bank runs?
Link Posted: 10/28/2013 1:43:42 PM EST
I got the same thing from my credit union, I have been an adult (at least on paper), for the decade+ I have been with my C.U..
Link Posted: 10/28/2013 1:45:19 PM EST
Same with the few CU accounts I have. None were opened when I was a kid / student / baby, etc.
Link Posted: 10/28/2013 1:45:57 PM EST
http://en.wikipedia.org/wiki/Regulation_D_(FRB)


Reserve Requirements for Depository Institutions (Regulation D) is a Federal Reserve Board regulation that limits the number of preauthorized withdrawals and transfers from a savings account or money market account. The regulation applies to all United States banking institutions offering such accounts.

In consumer banking, "Regulation D" often refers to §204.2(d)(2) of the regulation, which places a limit of six withdrawals or outgoing transfers per month from savings or money market accounts via several transaction methods. Transactions counted against the limit include "preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties." Transactions not counted against the limit include "mail, messenger, automated teller machine, or in person or when such withdrawals are made by telephone (via check mailed to the depositor)."

The law was amended in 2009 to allow greater freedom for the depositor: beforehand, the limit was six withdrawals per month if the funds remained within the same institution (e.g., transfer to checking), but was only three drafts where the funds left the institution (e.g., check, ACH, or card based purchase).[1]

The number of deposits or incoming transfers into savings or money market accounts is not limited.
View Quote
Link Posted: 10/28/2013 1:47:51 PM EST
Reg D applies to everyones savings and money market accounts.
Link Posted: 10/28/2013 1:48:20 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Maccrage:
http://en.wikipedia.org/wiki/Regulation_D_(FRB)

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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Maccrage:
http://en.wikipedia.org/wiki/Regulation_D_(FRB)


Reserve Requirements for Depository Institutions (Regulation D) is a Federal Reserve Board regulation that limits the number of preauthorized withdrawals and transfers from a savings account or money market account. The regulation applies to all United States banking institutions offering such accounts.

In consumer banking, "Regulation D" often refers to §204.2(d)(2) of the regulation, which places a limit of six withdrawals or outgoing transfers per month from savings or money market accounts via several transaction methods. Transactions counted against the limit include "preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties." Transactions not counted against the limit include "mail, messenger, automated teller machine, or in person or when such withdrawals are made by telephone (via check mailed to the depositor)."

The law was amended in 2009 to allow greater freedom for the depositor: beforehand, the limit was six withdrawals per month if the funds remained within the same institution (e.g., transfer to checking), but was only three drafts where the funds left the institution (e.g., check, ACH, or card based purchase).[1]

The number of deposits or incoming transfers into savings or money market accounts is not limited.


yeah bull fucking shit.
Link Posted: 10/28/2013 1:58:50 PM EST
Capital controls for the upcoming implosion.
Link Posted: 10/28/2013 2:01:47 PM EST
Something to do with how much money the bank has have to cover what they're holding for you in a savings account. Savings account require them to hold less money than what a checking account does. They limit the transfers so people don't use a savings account like they would use a checking account.

Also, IIRC the federal regulation allows institutions to impose a fee for violation of the regulation but there's nothing said about the amount. When I got hit with it, and a $10 fee, I talked with the manager at the branch I frequented. I brought up that they're allowed to charge a fee but not required to, nor is the fee paid to the government in any way so if it's not dropped I'll be moving my money elsewhere. The manager waived the fee and said to just keep the outgoing transactions to a minimum.
Link Posted: 10/28/2013 2:05:06 PM EST
So take all your money out as soon as it gets put in there.

Don't deposit money to banks.

Leave just enough to cover checks/bills, take out the rest.

There are plenty of options other than leaving your money in the bank. I rarely leave much in the banks.

Few people realize that the govt can also stop ANY bank withdrawls for days to stop runs on the bank. I don't like leaving my money with an entity that can arbitrarily decide I can't have access to it until they feel like giving me access. Remember a year or so ago when one country simply seized the money in people's bank accounts? I don't know many people who truly believe that couldn't happen here.
Link Posted: 10/28/2013 2:05:38 PM EST
Get an interest bearing checking account. Problem solved.

We have an interest bearing checking account through our CU. Currently paying about 1.5%. Which doesn't sound like much, but compared to the 0.2% the savings account is paying it's big money.

When we opened it, it was paying abou 5%.
Link Posted: 10/28/2013 2:08:22 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Gixxersixxer:
Something to do with how much money the bank has have to cover what they're holding for you in a savings account. Savings account require them to hold less money than what a checking account does. They limit the transfers so people don't use a savings account like they would use a checking account.

Also, IIRC the federal regulation allows institutions to impose a fee for violation of the regulation but there's nothing said about the amount. When I got hit with it, and a $10 fee, I talked with the manager at the branch I frequented. I brought up that they're allowed to charge a fee but not required to, nor is the fee paid to the government in any way so if it's not dropped I'll be moving my money elsewhere. The manager waived the fee and said to just keep the outgoing transactions to a minimum.
View Quote


This is what I was told at Chase when I asked why the fuck I was charged a fee for withdrawing money from savings to put into checking more than six times a month. I was doing this to keep as little money as possible in my checking after my debit card was hacked and got hit for $500.

What the guy told me, in layman's terms, was that the banks have to give a report to the government of what the average holdings they have and if you keep withdrawing it fucks with those averages. Although, he did mention the "regulation D" crap too.

Link Posted: 10/28/2013 2:09:09 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:
Capital controls for the upcoming implosion.
View Quote

Link Posted: 10/28/2013 2:11:31 PM EST
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?
View Quote

WOD strikes again. Don't you feel safer?
Link Posted: 10/28/2013 2:24:28 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By NavyDoc1:

WOD strikes again. Don't you feel safer?
View Quote



I'm pretty sure Reg D pre-dates the War on Drugs, but I can't find a revision history.

Additionally, it's a Federal Reserve Board regulation. That means it's not technically a Federal law, since the Federal Reserve is technically an independent bank.
Link Posted: 10/28/2013 4:33:13 PM EST
My wife and I have been receiving warnings from our bank (BofA) for years concerning our deposits and transfers of money between our accounts.
Supposedly we have been in violation of DHS regulations and have been ordered to stop such transactions.
Welcome to the new Amerika.
Link Posted: 10/28/2013 4:38:48 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By NavyDoc1:

WOD strikes again. Don't you feel safer?
View Quote


I don't think this is one is due to the WOD, but there certainly are lots of restrictions and extra steps in place to fight the WOD and GWOT.
Link Posted: 10/28/2013 4:44:34 PM EST
[Last Edit: 10/28/2013 4:45:38 PM EST by c7aea15]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 49north:
My wife and I have been receiving warnings from our bank (BofA) for years concerning our deposits and transfers of money between our accounts.
Supposedly we have been in violation of DHS regulations and have been ordered to stop such transactions.
Welcome to the new Amerika.
View Quote


BofA closed down one of my accounts because of this They made the account into a checking account. Then I had to open up a new savings account then transfer everything over. God I hate BofA
Link Posted: 10/28/2013 4:45:28 PM EST
Bitcoin.
Link Posted: 10/28/2013 4:47:42 PM EST
Financial repression. It's to limit your activity and keep the ducats in the bank. It happens in Third World nations that are in financial straits. They want to prevent a flight of capital.

One day you may wake up and find yourself given a haircut ala Cyprus.
Link Posted: 10/28/2013 4:49:10 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PFC_Kramer:
Reg D applies to everyones savings and money market accounts.
View Quote
+1
It has been in effect for years. I remember a coworker bitching about it in ~2006 after she and her husband set up all of their monthly bills to be automatically withdrawn from a savings account and they were hit with a ton of penalty fees for the two months it took them to cancel the withdraws and move them to a checking account.

Kharn
Link Posted: 10/28/2013 4:50:03 PM EST
How does it help your bank to let you withdraw whatever the fuck you want?
Don't like it? Lobby congress more than they do then
Link Posted: 10/28/2013 4:50:29 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 4v50:
Financial repression. It's to limit your activity and keep the ducats in the bank. It happens in Third World nations that are in financial straits. They want to prevent a flight of capital.

One day you may wake up and find yourself given a haircut ala Cyprus.
View Quote


You can pull out all your funds in six or less transactions a month. This has nothing to do with preventing flight of capital.
Link Posted: 10/28/2013 4:51:55 PM EST
[Last Edit: 10/28/2013 4:52:33 PM EST by mitchellh]
It's called Capital Controls. Your money does not belong to you.
Link Posted: 10/28/2013 4:53:54 PM EST
Make 10 deposits in 30 days and see if they bitch about that. I think not.
Link Posted: 10/28/2013 4:55:08 PM EST
Why have a "savings" account if you're going to pull the money out every 5 days?
Link Posted: 10/28/2013 4:58:02 PM EST
[Last Edit: 10/28/2013 4:58:32 PM EST by tommytomaso]
Originally Posted By dalyman72:
Why is it that the .gov can limit the amount of times I withdraw from my savings acct? I just got an email from Fells Wargo saying:

We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of 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 the following:

The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers - Using Wells Fargo's automated banking service or speaking with a banker on the phone
Overdraft Protection - Transfers to a checking account for overdraft coverage also counts
Third-party payments - Includes checks, wires, and ACH transfers (recurring and one-time)

WTF mate?
View Quote
yep...its screwed me a few times...i have a large sum deposited in my savings each week....(right on the cusp of too much concidering my out flow) but with overdraft conected i always thought no prob. well transfers out to cover overdraft = more then 6 a month = transfer lock. had to pay once even though i had more then enough in my account...i blew a fucking nutty on my banks management..all i got was "its the law" my fucking money and i can transfer it like i want??????? well a nice teller hinted that transfers were a no no...but i could withdraw from ANY ATM and then deosit. incse you all didnt know this is to keep terrorists from funding thier elicit activities
Link Posted: 10/28/2013 4:58:07 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dalyman72:


yeah bull fucking shit.
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Originally Posted By dalyman72:
Originally Posted By Maccrage:
http://en.wikipedia.org/wiki/Regulation_D_(FRB)


Reserve Requirements for Depository Institutions (Regulation D) is a Federal Reserve Board regulation that limits the number of preauthorized withdrawals and transfers from a savings account or money market account. The regulation applies to all United States banking institutions offering such accounts.

In consumer banking, "Regulation D" often refers to §204.2(d)(2) of the regulation, which places a limit of six withdrawals or outgoing transfers per month from savings or money market accounts via several transaction methods. Transactions counted against the limit include "preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties." Transactions not counted against the limit include "mail, messenger, automated teller machine, or in person or when such withdrawals are made by telephone (via check mailed to the depositor)."

The law was amended in 2009 to allow greater freedom for the depositor: beforehand, the limit was six withdrawals per month if the funds remained within the same institution (e.g., transfer to checking), but was only three drafts where the funds left the institution (e.g., check, ACH, or card based purchase).[1]

The number of deposits or incoming transfers into savings or money market accounts is not limited.


yeah bull fucking shit.

Not really. There's strict definitions on banks and their liquidity.

Because they did not have enough liquid assets on hand to cover their outstanding debts, many banks closed or were propped up by the .gov ("the too big to fail.") In any case, it is there to help protect all of the members of a financial institution.
Link Posted: 10/28/2013 5:00:28 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By c7aea15:


BofA closed down one of my accounts because of this They made the account into a checking account. Then I had to open up a new savings account then transfer everything over. God I hate BofA
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Originally Posted By c7aea15:
Originally Posted By 49north:
My wife and I have been receiving warnings from our bank (BofA) for years concerning our deposits and transfers of money between our accounts.
Supposedly we have been in violation of DHS regulations and have been ordered to stop such transactions.
Welcome to the new Amerika.


BofA closed down one of my accounts because of this They made the account into a checking account. Then I had to open up a new savings account then transfer everything over. God I hate BofA

They are required to convert the savings account to a checking account if you use the savings as a checking. There are strict definitions in place that govern what is "savings" and what is "checking" due to banks having a required amount of cash on hand or else they get shut down.

This has nothing to do with the war on drugs and only to do with keeping the doors open.
Link Posted: 10/28/2013 5:00:46 PM EST
You have a SAVINGS account. What you want is a CHECKING account.

Go close one and open the other tomorrow.

Done.
Link Posted: 10/28/2013 5:02:18 PM EST
Close the savings and open a checking, chances are interest isn't very good. Either way, Reg DD is bs. Big reason why a lot of banks are coming up with "creative" ways to nickel and dime you.
Link Posted: 10/28/2013 5:04:06 PM EST
Why? Because they can and we will do absolutely nothing about it, that's why.

Go ahead, chime in about writing to your "representatives". Let me know what an astounding waste of time that is later on.
Link Posted: 10/28/2013 5:04:15 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Razoreye:

They are required to convert the savings account to a checking account if you use the savings as a checking. There are strict definitions in place that govern what is "savings" and what is "checking" due to banks having a required amount of cash on hand or else they get shut down.

This has nothing to do with the war on drugs and only to do with keeping the doors open.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Razoreye:
Originally Posted By c7aea15:
Originally Posted By 49north:
My wife and I have been receiving warnings from our bank (BofA) for years concerning our deposits and transfers of money between our accounts.
Supposedly we have been in violation of DHS regulations and have been ordered to stop such transactions.
Welcome to the new Amerika.


BofA closed down one of my accounts because of this They made the account into a checking account. Then I had to open up a new savings account then transfer everything over. God I hate BofA

They are required to convert the savings account to a checking account if you use the savings as a checking. There are strict definitions in place that govern what is "savings" and what is "checking" due to banks having a required amount of cash on hand or else they get shut down.

This has nothing to do with the war on drugs and only to do with keeping the doors open.


I have a checking account with them too. It was a while ago, I forget exactly what/why it happened, but whatever I was doing they didn't like it
Link Posted: 10/28/2013 5:06:13 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By SnoopisTDI:
Why have a "savings" account if you're going to pull the money out every 5 days?
View Quote
have you seen the % they give you????? not what anyone would call A SAVINGS!!!! I use it as my "not for spending account....which means everthing thats not accounted for in bills goes into it, but because I'm not rich it dosnt take much for it to get hit when cars need to be fixed the house has issues...you know when life comes a knocking.

so for me your comment is
Link Posted: 10/28/2013 5:07:55 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Genin:
So take all your money out as soon as it gets put in there.

Don't deposit money to banks.

Leave just enough to cover checks/bills, take out the rest.

There are plenty of options other than leaving your money in the bank. I rarely leave much in the banks.

Few people realize that the govt can also stop ANY bank withdrawls for days to stop runs on the bank. I don't like leaving my money with an entity that can arbitrarily decide I can't have access to it until they feel like giving me access. Remember a year or so ago when one country simply seized the money in people's bank accounts? I don't know many people who truly believe that couldn't happen here.
View Quote


Yep. If it wasnt for people writing me checks i would never use the bank. I try not to leave much in there either.
Link Posted: 10/28/2013 5:12:59 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Notcalifornialegal:
Close the savings and open a checking, chances are interest isn't very good. Either way, Reg DD is bs. Big reason why a lot of banks are coming up with "creative" ways to nickel and dime you.
View Quote

Regulation DD or "Truth in Savings Act" is what requires banks to inform customers of the various fees and other pertinent regulations. Perhaps you meant "Reg D"

Regulation D came under the Securities Act of 1933 - during the Great Depression and all the bank failures. It was established to govern banks so they didn't have a debt to asset ratio of 100% and not be able to cover their asses. If a bank becomes troubled they have a limited time to get that ratio back (I can't recall but it's somewhere around 20% across all the depositors CDs/MM/Savings) otherwise the feds come in and seize the bank and all the assets and sell it all off.

There's been hundreds of banks that have gone under since 2008. You know a bank is in trouble when they're offering large interest on savings accounts and especially large on CDs. Certificates of Deposits usually attract large amounts which can help bring their books back into the ratio before the deadline. Offering a large interest return on CDs to bring a locked cash injection is a small price to pay because it beats closing the doors.

There's nothing nefarious about this other than to protect the depositors. If one is honest with one's self, safety is perceived but oh well.
Link Posted: 10/28/2013 5:13:17 PM EST
You can do as many as you like in person at the bank. Your limited to a few electronics a month. This is only for interest bearing accts. I gotnmy nuts broken a few months ago
Link Posted: 10/28/2013 5:16:07 PM EST
Link Posted: 10/28/2013 5:17:46 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By DK-Prof:
lol @ some of the posts in this thread.
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sorry
Link Posted: 10/28/2013 6:04:07 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By tommytomaso:
have you seen the % they give you????? not what anyone would call A SAVINGS!!!! I use it as my "not for spending account....which means everthing thats not accounted for in bills goes into it, but because I'm not rich it dosnt take much for it to get hit when cars need to be fixed the house has issues...you know when life comes a knocking.

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Originally Posted By tommytomaso:
Originally Posted By SnoopisTDI:
Why have a "savings" account if you're going to pull the money out every 5 days?
have you seen the % they give you????? not what anyone would call A SAVINGS!!!! I use it as my "not for spending account....which means everthing thats not accounted for in bills goes into it, but because I'm not rich it dosnt take much for it to get hit when cars need to be fixed the house has issues...you know when life comes a knocking.

so for me your comment is
Saving is... not spending! If you are dipping into your savings six times per month, you aren't saving shit. You are spending. And you give me the . SMH
Link Posted: 10/28/2013 6:50:04 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By SnoopisTDI:
so for me your comment is

Saving is... not spending! If you are dipping into your savings six times per month, you aren't saving shit. You are spending. And you give me the . SMH
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Originally Posted By SnoopisTDI:
Originally Posted By tommytomaso:
Originally Posted By SnoopisTDI:
Why have a "savings" account if you're going to pull the money out every 5 days?
have you seen the % they give you????? not what anyone would call A SAVINGS!!!! I use it as my "not for spending account....which means everthing thats not accounted for in bills goes into it, but because I'm not rich it dosnt take much for it to get hit when cars need to be fixed the house has issues...you know when life comes a knocking.
so for me your comment is

Saving is... not spending! If you are dipping into your savings six times per month, you aren't saving shit. You are spending. And you give me the . SMH



See my post above. Not everyone considers the shitty "savings" accounts banks offer real "savings". In fact, some people save real money in other accounts or ways, and leave a little in their shitty "savings" account for rainy days, or like what I did.
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