Reply #28: I don't think there is a limit when transferring from one account to a new one. [View All]

[Dover]

You can completely empty out and close your account at one bank and have them transfer to another. It's only when you want to withdraw cash (assuming it's over 10K) that there is
an issue. So lets say you have 30,000 dollars total at one bank. You can have them transfer all of that to a new bank where you have set up an account. BUT if you wanted to withdraw that as cash and then take it to the new bank to deposit (or put it under your mattress) there would be problems.

Logically speaking, interest rates are so low now (and CD's too) that there isn't much reason or incentive to keep one's money in the bank. But they'd love to invest it FOR you in various other things. The days of putting money into an interest bearing savings account and living off interest are over. Banks have no 'interest' in that (pun intended).