8/11/2023 0 Comments 6 transactions savings account![]() (2) Three of my credit cards are capital one, I'm not sure if there is a such thing as combing the payments into one payment to capital one instead of paying each card individually? Technically I can add some money to my local bank and move the autopayment for the smaller credit cards with the local bank, but I'd prefer to keep all payments at one place (Ally bank). Ally said they are keeping track and giving me alert emails but they aren't charging me or closing my account. (1) Reading conflictings reports if the government got rid of the 6 transactions per month on savings accounts. Keep all my money in an Ally savings, have a local bank but keep the min balance in it (mostly just to have a local bank). So I decided to tie small payments (sirusXM, netflix, etc) to each card. Had a few cards closed for inactivity.probably not a good thing given they were some of my first/oldest credit cards and I'm in my late 20s. Please consult your financial advisor before making any financial decision.Added the Chase Saphire card for the welcome bonus, which gives me 7 cards. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. It is not a substitute for specific advice in your own circumstances. The contents are generic in nature and for informational purposes only. The contents of this article/infographic/picture/video are meant solely for information purposes. With a ₹6 lakh purchase limit and an unlimited ATM withdrawal limit, IDFC FIRST Bank offers flexibility and allows you to make the best use of your money. To know more about opening a new savings account, you can reach out to IDFC FIRST Bank customer care on 1800 10 888. If you are in the market for a savings account, IDFC FIRST Bank’s savings account should be on your list. Using other means, such as cheques or internet banking, is relatively safe and helps you better maintain your financial situation. Savings account transaction limits work as a safety feature. Making larger transactions in cash can be risky as well. With the rise of multiple cash alternatives, going cashless may be the imminent future. Also, ensure that it is from a valid source. Cash transactions should be kept under this amount. Real estate transactions of high value made in cash could also attract attention, and you could receive a notice. It would be suitable to make credit card bill payments through other cashless modes, especially if it is a sizeable amount. When paying credit card bills, it is best to avoid making cash operations over this amount. You can make large FD transactions through other traceable means such as cheques or Mobile banking App.Ĭredit card bill payments also have a limit of ₹1 lakh. ![]() ![]() ![]() Cash deposits, while allowed in a fixed deposit (FD), should not exceed ₹10 lakhs. Like the savings account deposit limit, fixed deposits also have a ceiling when making cash transactions. ![]() Violation of this limit may garner the attention of the IT Department, and you may face a notice. Current accounts are mainly used for business transactions and are thus afforded a higher limit. Apart from savings account cash deposits, here are some other cash transactions that may attract the notice of the IT Department if they exceed a limit.Ĭurrent account holders have a cash deposit limit of ₹50 lakhs. ![]()
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