• Home
  • Top Stories
  • Politics
  • World
  • Technology
  • Entertainment
  • Economy
  • Contact Us
Search
19 C
New York
Friday, May 20, 2022
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
The Union Journal The Union Journal
The Union Journal The Union Journal
  • Home
  • Top Stories
  • Politics
  • World
  • Technology
  • Entertainment
  • Economy
  • Contact Us
Home Business Fed eliminates transfer limit on monthly withdrawals from savings accounts
  • Business
  • Trend
  • Your Money

Fed eliminates transfer limit on monthly withdrawals from savings accounts

By
Julia Carroll
-
April 25, 2020

In these dangerous times, most government agencies are trying to help citizens whichever way they can. The Federal Reserve announced that customers would be able to withdraw as many times as they want from their savings account- without having to pay any fee.

The Central Bank of the US has temporarily suspended the rule which prevents customers from withdrawing without expenses for more than 6 times a month. This is because the pandemic around us has made it all the more important that we have a stable cash flow at all times.

Yet, the Banks also released a statement mentioning that this didn’t necessarily mean that lenders would have to adhere to this plan and offer unlimited withdrawals – and can always renege on the offer. 

It can be assumed that the Central Bank is undergoing severe economic threats from the pandemic. Precisely why they are using everything at their disposal to combat this terror which does threaten to destroy the entire economy. 

Source. 

  • TAGS
  • Banks and Finance
  • global pandemic
  • savings account
  • US economy
  • US Federal Reserve
  • withdrawals
Facebook
Twitter
Pinterest
WhatsApp
Linkedin
ReddIt
Email
Telegram
    Previous articleAT&T CEO Randall Stephenson to step down, COO Stankey to take over
    Next articleFresh $310 billion in loans for small businesses already gone, bankers say
    Julia Carroll

    Recent Posts

    Elective surgeries set to resume, with complications and concerns

    Alicia Silverstone’s Iconic TikTok Debut

    Is this stock is Attractive? Powerbridge Technologies Co., Ltd. (PBTS)

    NEW DETAILS From Ariana Grande’s INTIMATE Wedding Come Out!

    Ethereum Price Moved Up But Pro Traders Are Not Choosing To Add Leverage

    Most Popular

    Louisiana

    Louisiana 2022: Senator Bill Cassidy Addresses The States High Maternal Mortality Rates

    Louisiana Senators Bill Cassidy (R-LA) and Jeff Merkley (D-OR) proposed the Maternal and Child Health Stillbirth Prevention Act of 2022, which provides government money...
    Alexandria Ocasio-Cortez-

    Alexandria Ocasio-Cortez Announces Her Engagement To Long Time Lover

    Alexandria Ocasio-Cortez (also known as AOC) is on her way to marrying her fiancé Robert Riley. Alexandria Ocasio-Cortez verified the announcement of their wedding...
    Celtics

    Celtics Win Game 2 Thanks To Marcus Smart

    Marcus Smart of the Boston Celtics had an unobstructed lane for an easy fast-break goal. Then he flubbed a layup after unnecessarily moving the...
    Pochettino

    Pochettino In The Dark About Mbappe’s Future

    Paris Saint-Germain coach Mauricio Pochettino insisted Friday he has no idea where Kylian Mbappe will play his club football next season as the striker's...
    Darwin Nunez

    Darwin Nunez Might Move To Man United

    There are contrasting reports bout Darwin Nunez reportedly turning down a move to Manchester United as the Uruguayan ace is a man in demand. Nunez,...
    The Union Journal
    ABOUT US
    The Union Journal provide you with the latest local and national news, sports, entertainment, finance, technology, and more
    Contact us: [email protected]
    FOLLOW US
    • About Us
    • Contact Us
    • Disclaimer
    • Privacy Policy
    © Copyright 2019 - theunionjournal.com