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#188855 - 05/11/04 09:26 PM check cards on money market accounts
Anonymous
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do you offer check cards on your money market accounts????

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#188856 - 05/11/04 09:29 PM Re: check cards on money market accounts
TomS Offline
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Joined: Jan 2004
Posts: 318
USA
No we don't, mainly because of the transaction limits on money market accounts.
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#188857 - 05/11/04 10:27 PM Re: check cards on money market accounts
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
You would need to treat the money market accounts as transaction accounts for Reg D purposes before you gave POS access. I do think that you could allow a money market to be a secondary type account for in-person cash withdrawal purposes (PIN based) like a savings account. You just could not permit unlimited POS transactions if the MMA accounts are classed as limited transaction accounts.
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#188858 - 05/12/04 11:10 AM Re: check cards on money market accounts
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
Unfortunately, yes we do. Believe me - I don't like it, but the accounts are monitored and customers are aware that these transactions 'count'.
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