Withdrawing Money Form Savings Account

Savings accounts are the type of account that let you set aside a certain chunk of your money that you might require in emergency situations for any kind of unexpected expenses. Another major advantage of having a savings account to your name is the fact that the money is set aside, and cannot be distributed through checks. However, this means that there are certain restrictions set up, going by which, your bank decides as to how and when money can be withdrawn from the savings account. This article will tell you various ways by which you could withdraw money from your Savings Account.

  • Examine the Banking Statement:

These types of statements are either sent via mail or available through the various online banking options. You need to establish whether you have a basic savings account, a money market account, an online savings account, or any other type.

  • Accessing the Account Online:

This is one of the widest used options if you want to withdraw money from your savings or deposit accounts into your checking. Several banks consider these processes as “transfers” more than “withdrawals”. This is because, they are not giving money to a third party. It stays within their bank for at least a short time. Click on the transfer button. Indicate the amount of money you would like to transfer from your account along with the date, and voilà! Your money is transferred as per your wish.

  • Calling the Bank:

One could easily call the bank or read through the documentations given by the banks on the websites. This is done in order to learn whether or not there are any withdrawal limits to your account. These accounts often let you withdraw money whenever you want, and they will let you shuffle money between accounts. Transfers and withdrawals can be done through online banking or even through the ATMs.