You can make credit card payments with savings accounts correct?

[glacier922]

I'm thinking it counts as one of your 6 transfers per month limit on savings accounts. You can pay your credit card with a savings account via routing and account number is that correct? Thanks.

[phaz0rz]

You can make an ACH payment with any type of bank account, as long as you have a routing and account number. I'm thinking it would count as one of your 6 transfers but I can't say for sure. Check with your bank for a definitive answer.

I asked the lady at Wells Fargo a similar question about this the other day. I was wondering if withdrawing from a savings account at the teller counts as one of the 6 monthly transactions. It does not. As long as you are physically in the bank, you can transfer from your savings account an unlimited amount of times. I'm sure your account would be closed though if you abused this policy and transferred from your savings account 100 times in one month.

[rsot]

Originally Posted by phaz0rz

I'm sure your account would be closed though if you abused this policy and transferred from your savings account 100 times in one month.

Hmm most banks I know state that if you go above your "free" number of savings transactions, you will be charged a fee - the bank would love for you to go over and charge you like $5 a transaction x 94....

[phaz0rz]

Well, that's not the case with Wells Fargo. You are able to do as many Savings transfers/deposits/withdrawals as you wish, as long as you are in the branch.

The 6 limit only applies to transactions done outside of the bank (e.g. online banking). If you go over 6 non-bank transactions then you are charged a fee, and the savings account is converted to a checking account if you do it 3 times.