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Is it standard to have a fee for excessive bank account transfers?

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DCPete27 asked:

I have linked accounts with M&T bank. If I need to pay a large bill I will transfer funds from my interest-bearing MM account into my checking. I discovered today that I have a fee for excessive withdrawals. Is this common? I feel that there should be unlimited transfers at the same bank.
Does it really cost a bank anything to electronically move funds from money market to checking? I doubt it does.

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3 Responses to “Is it standard to have a fee for excessive bank account transfers?”

  1. L*star* says:

    My bank does the same thing. I can only have 3 free transfers per month through online banking. Anything over and I am charged $20. If you go inside the bank and do this- you can transfer as many times as you want.

  2. mapma says:

    Yes with some banks now a days.
    Gone are the days of free anything — whats free in one area is made up for in another.

  3. bdancer222 says:

    Not only is it standard, it isn’t new. Typically, they allow a reasonable small number of free transfers. If they didn’t limit the number of free transfers, the entire online system would be tied up with idiots shifting a few dollars here and a few dollars there all day long.

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