Forum

US Savings account instead of Checking
 

Been wondering about this, and couldn't find the topic in the forum.
But am gonna ask, can you use a US Savings account instead of Checking
on Amazon for selling?

What if you don't have a checking account and all you had was a savings,
would Amazon accept it and deposit to that savings account?

Thanks in advance for any replies.

...YES ...YES and ...YES

Well, figured that. Even thought they distinctly state on there that to only use a "US Checking account", I figured they wouldn't have a problem with Savings,
since Checking and Savings are basically the same thing except for that the former
you can use checks.

Thanks for the reply.

Yes but we warned that you may receive a lot of inquires from the bank as that is NOT what a savings account is for.

Yep. With a saving account, you can only withdraw from it a limited times a month. If it becomes a problem, just ask them to change it to a regular account.

I see all account have limited need wait 90 days for withdrawal....

Recherche makes a good point on withdrawing from savings

If I make more than three withdrawals/transfers per month from my BOA savings account I get hit with a $3.00 fee for the fourth and any subsequent withdrawals. Before I knew about this rule I made seven transfers from my savings account to my checking account and I was charged $12.00 ~ $3.00 x 4 withdrawals over the limit. I called the bank and they gave back the $12.00 "this time" but said they would not do it again.

Okay, I just got a question about this as am worried. I listed my savings account with Amazon, because right now I don't have a checking account available....

I know that they make transfers (deposits) via ACH (Automated Clearing House),
and that it specifies if it is to be deposited to a checking account.
I received an email that they were initiating a deposit to my "checking account" #****.
It has been 2-3 days and the money hasn't been deposited into the bank.
I wonder if it could be due to that my account number is in savings and not checking?
Also, I called up the bank and they say they have no control to where the money
goes, that they are only on the receiving end, and that the money can go only
to which type of account it is specified for (Savings or Checking), if they receive a transfer and it's labeled for a "checking account",
even though there is a savings account with that existing account number, it would not go through and be denied due to security protocols.....

Has anyone ever received money on a savings account from Amazon? I desperately need to know if the money will be deposited or not via ACH from Amazon. Thanks in advance for any replies...

Any feedback or clarification on this would be helpful,
from someone who knows or has received payments/deposits from Ama zon
via US Savings ACH.....thanks.

I'd just like to thank those who replied to my plea earlier about having a Savings account to accept disbursements (which was NONE)....

I found out the hard and costly way what it means to use a US Savings account for disbursements.

THANKS!

What exactly happened? Did you not make the savings account active for deposits?

I too would like to know ...