I recently opened a new money market account because my existing one (that I've had for many years) is no longer providing a competitive interest rate. I've discovered that the bank of the new account places a daily limit on the amount that I can transfer in from my existing account, $5000. Both accounts are held in the US.

I'm fully aware of Regulation D and the limit on the number of transfers out, but this is different - it's on the amount and applies to inbound transfers. Is such a limit typical?

  • It's unusual for a money market account to have a daily transfer limit. But they do exist since I owned two of them some years back. However, their limits were on outgoing funds not incoming. I can't imagine why a bank or fund would want to limit incoming since they benefit from AUM. – Bob Baerker May 11 at 3:45

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