I don't understand

[n2mark]

when I wanted to pay something today from savings to my debit, the credit union refused me. From what they are saying it is against the law to transfer my little money I have from savings to checking more than twice in a month. This is my money, what gives them the right to tell me how to spend it?

[BelleCarolinaPeridot]

1. Welcome to the club of the confused credit union users .

I have had the same problem . So to just get past it , I divide each sum of money I get into halves and one goes to savings and the other to checking . Saves me the headache .

[MissB]

2. My credit union has a limit of six per month but...

they will let me override that by going to the credit union in person. I am limited to six online or phone transfers per month. Before my credit union merged, it was two a month.

[warrens]

3. As I understand it, there are two reasons

They're loaning out the money in your savings account, so they like to know how much there is on any given day. And it's a security thing to keep someone from draining your account. And probably, it saves them money.

[mcscajun]

4. There are federal regulations governing transfers to/from certain accounts

Ask your credit union to give you a copy of the account terms; that document should explain what regulations they are following and which agency controls the credit union.

[underpants]

5. It has something to do with monkeys and PNAC

but I can't explain it right now I have some scratch lottery tickets waiting for me.