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Limits on Savings Withdrawals Have Been Lifted

Limits on Savings Withdrawals Have Been Lifted
The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference, in Toronto, Canada, on Oct. 19, 2017. Chris Helgren/Reuters
Wire Service
4/24/2020|Updated: 4/24/2020

Banks can now allow savings account holders to make an unlimited number of transfers or withdrawals, the Federal Reserve Board announced Friday.

The Fed removed the previous limit of six transfers or withdrawals per month to allow people greater access to their savings during this time of economic uncertainty and widespread unemployment.

Wire Service
Wire Service
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