Charges on my Rapid Save account


#1

I’ve just noticed something called ‘Charges’ has taken $15 out of my Rapid Save account. What is this for? Is it account fees? I thought you didn’t get charged fees on accounts set up in You Money?


#2

There are no account fees for Rapid Save, but you do get charged if you make more than one withdrawal during the interest month. If you’ve been charged $15, you’ve likely made 4 withdrawals, and been charged for the last 3. Making 2+ withdrawals monthly also means you miss out on the bonus interest that month


#3

Oh you’re right, I just checked my transactions and that adds up. Missed out on that bonus too. Will have to be more strict on the withdrawals this month! Thanks @samachik