Checking Account Deals

What are the provisions of the Patriot Act section that limits account transfers between savings and checking?

I'm concerned about a part of the Patriot Act that deals with this. Apparently, your savings account can be closed if you make more than 6 tranfers over a consecutive three month period from your savings account to checking account. Does the law differentiate between types of transfers, i.e. phone, computer, ATM, branch, etc...

Public Comments

1. That's not in the Patriot act.
2. That not the Patriot Act. Those regulations are for money markets and some savings accounts. However, Some credit unions have those restrictions even for the basic account. Check with your bank with how many transfers are allowed between accounts. There is a way around that restriction on transfers. Go in and withdraw from one account. Then deposit into another account. It will take a day or two before you can use the amount you deposited.