I currently have BOA with checking and savings accounts.
I'm tired of BOA giving me like 0.02% on my savings and want to open a high interest saving account but I want to keep my BOA accounts more specifically for checking but will probably keep some in the savings account as well.
So the question is how hard is it to move money between the accounts since they are different institutions? Will I run into the $10,000 limit? How are those transfers reported to the IRS?
It won't be that often but lets say I want to pay cash for a car or make a home improvement and want to move that money to checking for a quick swipe or write a check from my checking accounts at different institutions.
I'm tired of BOA giving me like 0.02% on my savings and want to open a high interest saving account but I want to keep my BOA accounts more specifically for checking but will probably keep some in the savings account as well.
So the question is how hard is it to move money between the accounts since they are different institutions? Will I run into the $10,000 limit? How are those transfers reported to the IRS?
It won't be that often but lets say I want to pay cash for a car or make a home improvement and want to move that money to checking for a quick swipe or write a check from my checking accounts at different institutions.
