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#1
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EmigrantDirect - only 6 withdrawals per month
My new financial scheme for routing money online follows this plan:
Checking <-> EmmigrantDirect <-> Neteller as well as Checking <-> EmigrantDirect <-> Moneybookers But I just learned that Emigrant direct only allows 6 withdrawals per month, this puts a kink in my plan. What is the policies for the competition (ING or any other online bank) in regards to Electronic Funds Transfers? TT [img]/images/graemlins/club.gif[/img] |
#2
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Re: EmigrantDirect - only 6 withdrawals per month
They would all be the same way. That is a federal restriction, you won't find a legit savings account that doesn't have that. You need to find a money market or interest bearing checking or some other type of account to pull from if that's going to be an issue.
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#3
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Re: EmigrantDirect - only 6 withdrawals per month
[ QUOTE ]
They would all be the same way. That is a federal restriction, you won't find a legit savings account that doesn't have that. You need to find a money market or interest bearing checking or some other type of account to pull from if that's going to be an issue. [/ QUOTE ] I didn't know its a fedral rule. I assume ING therefore is also 6 transactions a month max? for what its worth, I only expect 6 or less a month anyway, but its better to be safe than sorry. TT [img]/images/graemlins/club.gif[/img] |
#4
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Re: EmigrantDirect - only 6 withdrawals per month
[ QUOTE ]
I didn't know its a fedral rule. I assume ING therefore is also 6 transactions a month max? [/ QUOTE ] You assume correctly. Acme |
#5
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Re: EmigrantDirect - only 6 withdrawals per month
Is there a particular reason you need an online bank?
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#6
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Re: EmigrantDirect - only 6 withdrawals per month
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Is there a particular reason you need an online bank? [/ QUOTE ] 1) Better interest rate. Make your money go to work for you. With Neteller it just sits there. 2) More reliable than Neteller. Emigrant is a very well established bank 3) Open a new Party account using a different funding option. TT [img]/images/graemlins/club.gif[/img] |
#7
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Re: EmigrantDirect - only 6 withdrawals per month
4% is better than nothing + what TT said.
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#8
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Re: EmigrantDirect - only 6 withdrawals per month
I assume you're gonna use IGM-pay as your new funding way. If I were going to do this I would open up two accounts, savings and checking, at a bank like Commerce or Webster(may force you to take a trip to westchester). They offer good things like ATM fee rebates(don't pay anything at any ATM). Then you could use the checking account to do the transfers and cut it to the savings account for the interest. I don't know what their rates are though...
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#9
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Re: EmigrantDirect - only 6 withdrawals per month
You could open an ED and an ING account and get 12 withdrawls total a month. You can only get six for each, but no reason you can't open multiple online savings accounts.
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#10
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Re: EmigrantDirect - only 6 withdrawals per month
EmmigrantDirect is meant for saving money, don't use it as a hub to divert funds around. Thats the purpose of your checking account.
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