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There is a federal requirement with savings accounts that you can only make 6 withdrawals per month. Right now that has been lifted due to covid, so there is no
by adammoelis 6y ago
There is a federal requirement with savings accounts that you can only make 6 withdrawals per month. Right now that has been lifted due to covid, so there is no limit.
If you withdraw, you lose tickets so that is a deterrent to continuing to deposit and withdraw to game the system
- mrjaeger 6y agoIs there a limit to the amount of money you can withdraw at once?
- adammoelis 6y agoYes. This is for fraud protection reasons. The way ACH works is pretty crazy and is easy to commit fraud with. Right now it's $2,000 per day. If you want to withdraw more than $2,000 per day, you can upload a driver's license to verify your identity (prevents fraud) and then you can withdraw up to $100,000 per day.