Withdrawals from a savings account are occasionally costly and are sometimes much higher and more time-consuming than the same financial transaction which are being performed on a demand account. However, most savings accounts do not limit withdrawals, unlike certificates of deposit. With online accounts, the main penalty is the time required for the Automated Clearing House to transfer funds from the online account to a "brick and mortar" bank where it can be easily accessed. During the period between when funds are withdrawn from the online bank and transferred to the local bank, no interest is earned.
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