sinik said:Argyll said:I am sorry if there was any misunderstanding. My Provident checking account is linked to many other accounts from those other institutions, i.e., I set up a link with Provident from Amboy, Emigrant, ING, T. Rowe Price, Alliant, etc. I have had no problems whatsoever doing this and have had these links for years.No worries. I'm just shotgunning all options at this point since I have some large bills due and need access to this money. In addition to the pulls from the accounts you mentioned, have you tried pushing from your Provident checking account? If so, does the $5k limit apply there too?P.S. Did you get the free digital video camera that comes with a new checking account through March 31?First I've heard of this. Do you have a link or more info?

Free Camera Link

pETerCOolZ said:Free Camera LinkThanks

Argyll said:The links work both ways and were set up initially to send money from Provident to the various financial institutions. The monies are pushed and pulled by the institutions to and from Provident. Both ways no problem. I don't know about the $5000 limit. I recently transferred $12,000 into Provident checking and then into my savings account.Sorry if I wasn't clear. Can you initiate an outgoing transfer in excess of $5k from your Provident checking account? If I understand you correctly, you can transfer money out of your Provident checking by initiating the transfers from your external accounts (e.g., logging onto Amboy and initiating a pull) . But can you log into your Provident checking account and initiate a large outgoing transfer that way?

I think their CS lacks a little bit.

When you apply for the account, you fill in a section for a external transfer INTO the Provident account.

When your account becomes active and you verify the 2 deposit amounts (into your external account), you are able to access the Provident site with your account showing. However, no inbound transfers show up.

You click on "transfer funds" and it will say something to the effect of "no accounts found". You call the number listed on the "contact us" and go through the prompts, only to find out the agents will direct you to fill out a form for online transfers - but that form is for INTERNAL transfers only.

You'll get a number - 800-962-9644 - which supposedly is the number to go to for help with external transfers. I haven't had the chance to call them yet. Hopefully that's the last call I have to make to link external accounts for push/pull.

I know at least one person earlier stated the account they signed up to be linked in the application process did eventually link - is this the case for all? It'd be a lot better if the Provident account actually showed a pending inbound transfer, b/c at the point of new account verification, you have no idea if funds are going to be transferred in or not, and you also have NO ability to transfer additional funds in until the external account is linked (if it will be at all).

Any updates on them removing the 5k restrictions? BoA isn't free to push money, and I don't really want to do the BoA -> ING -> Provident thing.

Just talked to CS now as well regarding how long it takes for external transfer (initial transfer and the ability to push/pull funds with externals) to show into new accounts. They stated 5-7 business days.

markcerv said:ThursdaysChild said:Gack! Too much fine print to answer my own question, so just out of curiosity, does the 6 transfer limit include transfers IN? Or is it just withdrawals as required by Reg D?


From the Consumer Deposit Account Agreement, look on page 2, right column, 3rd paragraph in the section Limits on Withdrawals
Subject to availability, up to 6 transfers or withdrawals per monthly service
charge cycle for Statement Savings Accounts, Online Savings Accounts,
and Money Market Accounts or per each monthly period ending on the 26th
of each month for Passbook Savings Accounts will be permitted by preauthorized,
telephone, or personal computer transfers to third parties or to
another Account in the name of the Account holder.

I interpret this as: you can make as many deposits as you'd like per month, but you are limited to 6 withdrawls (either via ATM machine....or ACH transfer) per monthly cycle.
There are no restrictions for ATM withdrawals - except bank-imposed daily dollar amounts.

ThankYou said:Does that mean "initial transfer into the account to fund it" or does that mean "any transfer in and out of the account" or does it mean something other iteration? Pushes? Pulls? "withdrawls" etc?

It'd be great if somebody could confirm that they have moved (in a single transaction) more than $5000 of money OUT of the ProvidentDirect account directly into a NON-Provident account. So far I don't know that anybody has done that.


.I can confirm that today I initiated an outgoing transfer of $30k from my Provident account. Before, the system would not let you submit a transfer over $5k. Today the request went through just fine. Obviously I haven't received the funds in my external account yet, but I have no reason to believe the transfer won't go through.

Of course, this change had to come the day after I opened two Provident checking accounts in an attempt circumvent the $5k limit. Oh well, maybe I'll get a camera out of this.

aptvictoria said:BruteForce said:I was able to push a $57K transfer from CWB to Provident. Showed up as available within 2 days.
Were the funds earning interest at CWB up until the time the funds arrived at Provident?

Both banks showed the balance changes on the same day. I would assume there was no interest lost.

Update: successfully pushed $30k out of my savings. They process all ACH transfers once daily at 7pm (EDT). They remain pending (with the option to cancel) until that point.

I requested my transfer yesterday (before 7pm). The funds have already shown up in my external account this morning. That's quite fast.