Talk:Savings account

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US jargon[edit]

A few examples:

M2 monetary aggregate
checkable deposits (demand deposits, ATS, NOW, and other checkable deposits) and "sweeping" such deposits into savings deposits (specifically, money market deposit accounts (MMDA)). Under the Federal Reserve's Regulation D, MMDA accounts are personal saving deposits and, hence, have a zero statutory reserve requirement.
Regulation D, 12 CFR 204.2(d)(2)
etc.

12 Sudhir Pal (talk) 06:46, 15 February 2017 (UTC)[reply]

Rewrite[edit]

This whole article needs a rewrite! simonthebold 00:46, 17 March 2006 (UTC)[reply]

I agree! And I have just done that. The old version of the article was too technical and too specific to the United States. This version should be more international. -- AirOdyssey 00:28, 17 September 2006 (UTC)[reply]

But it's also incorrect. (In what country are withdrawals from savings accounts, not CDs, costly???) Therefore, the previous article was reinstated, with some edited to specify the US centric information. The solution to US-centrism is to add info about other countries, not delete information. Calwatch 04:02, 29 September 2006 (UTC)[reply]

Definitely needs a rewrite. It should be added to include sites that compare savings accounts such as Which Savings. — Preceding unsigned comment added by 124.171.3.223 (talk) 21:47, 2 July 2012 (UTC)[reply]

預金[edit]

What page would be the appropriate place to list Japanese yokin (預金) accounts? The official translation of the name yokin is savings account, but you use it as a current account, in the sense that you are issued a cash card, you make bank transfers using the account (automatic as well as non-automatic) and you may be (upon request) be issued a cheque book for the account. So they fit in purpose to Current account (banking) but in name to Savings account. (Stefan2 22:12, 5 June 2007 (UTC))[reply]

A person cannot write a cheque on a savings account in the United States, but the account often includes a cash card and allows a limited number of transfers. See if demand account fits better. --SueHay 02:38, 6 June 2007 (UTC)[reply]

Type of withdrawals limited by Reg D[edit]

This sentence paraphrases the regulation inaccurately:

In the United States, under Regulation D, 12 CFR 204.2(d)(2), the term "savings deposit" includes a deposit or an account that meets the requirements of Sec. 204.2(d)(1) and from which, under the terms of the deposit contract or by practice of the depository institution, the depositor is permitted or authorized to make up to six transfers or withdrawals per month or statement cycle of at least four weeks.

Reg D limits the number of preauthorized withdrawals on non-transaction accounts. Preauthorized withdrawals include ACH, transfers by phone, transfers by Internet banking, and automatic overdraft transfers. Withdrawals and transfers made in person or at an ATM are not preauthorized and are not subject to the limit.

Pnm (talk) 22:33, 14 May 2010 (UTC)[reply]

This sentence paraphrases the regulation inaccurately:

The depository institution may authorize up to three of these six transfers to be made by check, draft, debit card, or similar order drawn by the depositor and payable to third parties.

As of 7/2/09, Reg D no longer has the three of six transfers limitation on checks, drafts, or debit cards; all six can now be made by any means. —Preceding unsigned comment added by 174.20.176.13 (talk) 03:22, 18 July 2010 (UTC)[reply]