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Friday, February 04, 2022

More banking woes

I am still trying to figure out how to manage 2 personal bank accounts and how to move money between them: I am only allowed 6 transfers per month from Bank of America, which is more than one a week, but I routinely transfer money to Alana's account, so I need to watch how often I do that. Now I found out that I can only use mobile banking at Gate City to deposit a total of $500 in a 30 day period! Yikes. That's only for the first 30 days, I guess to discourage using new accounts from being used for nefarious purposes. I'm learning more than I really wanted to about how banks work. And a new piece of information: a transfer between banks is called an ACH and many banks allow you to do that for free, but some banks charge a fee. Guess which category BofA falls into? That's right, the latter. $3 each time I was to transfer my own money. %$#@&*!

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