What classifies as a convenient transaction or withdrawal?
A convenient withdrawal is a transaction that allows easy access to funds in an account without requiring significant effort or delay. Convenient withdrawals typically include transactions such as writing or cashing checks, debit card purchases, or online transfers. Other convenient transactions may include telephone and automatic transfers as well as Automated Clearing House (ACH) transfers.
On the contrary, an inconvenient transaction may include an ATM transaction, in-person transactions at the financial institution, or calling the financial institution to issue a check by mail.
Make sure that you know the rules associated with your MMA. Review and take note of what your banking institution considers a “convenient transaction.”