can you withdraw an amount in excess of the balance in your savings bank account? give reasons on support of your answer
Answers
Explanation:
If you occasionally exceed the limit, your bank may decline your excess transactions or charge you a fee. If you exceed that limit often, your bank will convert your savings account to a checking account or close the account altogether.
Which Transactions Do Not Apply to the Savings Withdrawal Limit?
You might use your savings account to pay large, irregular bills, such as insurance or property taxes, and that's fine. You are entitled to those six withdrawals per month. In fact, you can actually exceed that limit if you withdraw money in a few ways:1
By visiting a teller in person
By withdrawing cash from an ATM
By transferring money from savings to checking at an ATM
By asking your bank to send you a check
Since these methods are considered "inconvenient," they don't count toward the six-withdrawal limit. All the same, banks may still charge you for more than six withdrawals or transfers from savings per month even if some of the withdrawals use an inconvenient method.
Answer:
No
We can't withdraw an amount in excess of the balance in your saving account Because we can't have credit facilitation. We can withdraw at limited amount.
Explanation: