Comments on: Suspicious Bank Fee on Your Statement? It Might be the Elusive Regulation D Savings Account Fee http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/ Helping a unique generation achieve financial independence. Sat, 20 Mar 2010 15:15:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Sandaili http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-123559 Sandaili Sat, 26 Dec 2009 23:13:01 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-123559 This is bullshit. If there is a regulation, there should be NO transactions available after the 6. Then again, Regulation D is just a regulation made so banks can profit off of the mistakes of people. Think about it. Why can't there by more than 6 online or by phone, yet in person it's fine? It's to siphon money off the people. This is bullshit. If there is a regulation, there should be NO transactions available after the 6. Then again, Regulation D is just a regulation made so banks can profit off of the mistakes of people. Think about it. Why can’t there by more than 6 online or by phone, yet in person it’s fine? It’s to siphon money off the people.

]]> By: referro http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-122585 referro Wed, 21 Oct 2009 19:44:38 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-122585 Time to end the FED. Time to end the FED.

]]> By: Timoteo http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-121303 Timoteo Thu, 30 Jul 2009 14:11:42 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-121303 Regulation D mentions nothing about a fee. These fees were dreamed up by the banking industry's think tank. I used to work for a bank and our managment team had the collective IQ of a hampster! Regulation D simply limits your transactions and requires the customer to be notified that no more transactions will be authorized. It's the banking industry who decided to allow the transactions to continue beyond the limit but each activity would be fee based. Give us a break, its hard enough to try and manage your money in these tough economic times without your bank sitting there with their calculators and clip boards. If you contact your bank the cleverlyl hide behind their "Regulation D requires it" when in fact Regulation D simply puts a limit on the transactions. Banks are the ones that dreamed up the fee part of it. Regulation D mentions nothing about a fee. These fees were dreamed up by the banking industry’s think tank. I used to work for a bank and our managment team had the collective IQ of a hampster! Regulation D simply limits your transactions and requires the customer to be notified that no more transactions will be authorized. It’s the banking industry who decided to allow the transactions to continue beyond the limit but each activity would be fee based. Give us a break, its hard enough to try and manage your money in these tough economic times without your bank sitting there with their calculators and clip boards. If you contact your bank the cleverlyl hide behind their “Regulation D requires it” when in fact Regulation D simply puts a limit on the transactions. Banks are the ones that dreamed up the fee part of it.

]]> By: » Limit of Six Withdrawals from Savings Accounts @ fivecentnickel.com http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-96032 » Limit of Six Withdrawals from Savings Accounts @ fivecentnickel.com Wed, 03 Dec 2008 14:58:35 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-96032 [...] In plain English, courtesy of GenXFinance… [...] [...] In plain English, courtesy of GenXFinance… [...]

]]> By: The Honest Dollar | Don’t Stick Your Money Under the Mattress! http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-54634 The Honest Dollar | Don’t Stick Your Money Under the Mattress! Tue, 29 Jan 2008 23:45:57 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-54634 [...] overdraft by $1, rather than just denying the charge.   Banks don’t make it obvious that Regulation D (a federal law) limits the number of withdrawals customers may make from savings, then charge [...] [...] overdraft by $1, rather than just denying the charge.   Banks don’t make it obvious that Regulation D (a federal law) limits the number of withdrawals customers may make from savings, then charge [...]

]]> By: Weekend Linkage - January 27, 2007 | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-54206 Weekend Linkage - January 27, 2007 | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing Mon, 28 Jan 2008 04:11:50 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-54206 [...] What’s Regulation D fee? I have no idea until I read the post on Generation X Finance, where Jeremy explained what transactions could trigger the elusive Regulation D savings account fee. [...] [...] What’s Regulation D fee? I have no idea until I read the post on Generation X Finance, where Jeremy explained what transactions could trigger the elusive Regulation D savings account fee. [...]

]]> By: Tim http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53982 Tim Sun, 27 Jan 2008 00:30:12 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53982 I use my savings account to hold my emergency fund and rarely do any withdrawals. At most I have 2 or 3 deposits into it per month. I currently have it with HSBC Direct. I've been using HSBC Direct for over a year. Started off getting 5.05%, and now with the rate cuts I'm at 4.25%. I just did a reality check to ensure I'm still getting a good rate and for the most part I am. I posted the sites I looked at here: <a href="http://themoneykings.com/blog/comparison_of_high_interest_savings_account_rates">http://themoneykings.com/blog/comparison_of_high_interest_savings_account_rates</a> I use my savings account to hold my emergency fund and rarely do any withdrawals. At most I have 2 or 3 deposits into it per month. I currently have it with HSBC Direct.

I’ve been using HSBC Direct for over a year. Started off getting 5.05%, and now with the rate cuts I’m at 4.25%. I just did a reality check to ensure I’m still getting a good rate and for the most part I am. I posted the sites I looked at here:
http://themoneykings.com/blog/comparison_of_high_interest_savings_account_rates

]]> By: I Have Released A New Episode Of The No Credit Needed Podcast (Plus A Quick Stroll Through My Blogroll) http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53819 I Have Released A New Episode Of The No Credit Needed Podcast (Plus A Quick Stroll Through My Blogroll) Fri, 25 Jan 2008 21:34:35 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53819 [...] Jeremy writes about mysterious bank fees. [...] [...] Jeremy writes about mysterious bank fees. [...]

]]> By: Jeremy http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53591 Jeremy Thu, 24 Jan 2008 19:45:58 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53591 Yep, that's the problem. It is a federal regulation, so most banks feel they don't need to bother mentioning it since it isn't just an individual bank policy. Yep, that’s the problem. It is a federal regulation, so most banks feel they don’t need to bother mentioning it since it isn’t just an individual bank policy.

]]> By: Lily http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53572 Lily Thu, 24 Jan 2008 18:51:29 +0000 http://genxfinance.com/2008/01/23/suspicious-bank-fee-on-your-statement-it-might-be-the-elusive-regulation-d-savings-account-fee/#comment-53572 "The fee was a surprise." That's a serious problem. When I first heard about Reg D, I scoured my savings accounts documentation for any mention of Reg D or associated fees. I couldn't find anything! I'm glad this article is out there so people can know about Reg D, because banks aren't informing their customers. “The fee was a surprise.”

That’s a serious problem. When I first heard about Reg D, I scoured my savings accounts documentation for any mention of Reg D or associated fees. I couldn’t find anything!

I’m glad this article is out there so people can know about Reg D, because banks aren’t informing their customers.

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