“Federal Reserve scraps transfer limits on bank savings accounts”
April 24, 2020
“The U.S. Federal Reserve announced Friday that banks can now allow account holders to make an unlimited number of withdrawals and transfers from their savings accounts.
The central bank updated its rules to scrap the six-per-month limit that had previously existed for such accounts. The Fed said the move would help ensure people can access their funds “at a time when financial events associated with the coronavirus pandemic have made such access more urgent.”
The Fed said it removed the limit because a recent policy shift had rendered it unnecessary…”
https://finance.yahoo.com/news/federal-scraps-transfer-limits-bank-141036356.html