Can taking out money from my savings account affect the benefits I get?

I want to take out some money but i wasn’t sure if it could make our benefits stop coming. Also, does anyone know if i have to take it all out or am i allowed to surrender jus a bit of it?

Become an Expert →

Answer #1

IDK about affecting “Benefits” you get, but I know I can withdraw as little or as much as I like from my savings account. Most banks/credit unions will require you to have a minimum balance tho, usually around $20.00. If you are under a certain balance some will charge a “service fee”. You really just need to ask the bank where your savings account is. The things you are asking are going to vary from one financial institution to another.

Answer #2

you need to ask your particular bank, go into a branch with a list of questions you have. beacuse at some banks your benifits like intrest will be affected if you take money out and/or dont have a certain amount of money in there at all times

More Like This

Where to get the best interest on a US savings account? - 1 Answers
I would like to know where can I get best rates for savings account in US.
Can I pay cheques into my savings account? - 2 Answers
I was wondering if I can pay cheques into my savings account. Like if somebody gave me a cheque, could I get the money into m...
My mother took all the money out of my account, can I get it back? - 1 Answers
I am now 18 and moved out paying my own bills etc. I had not had time to get a new account yet and my mother was still cosign...
Where to get money to save? - 2 Answers
I want to save money so I can go out of the country with my dad and when we come back I want to still have money for stuffs I...
Should I give my boyfriend all of the saved money? - 2 Answers
my boyfriend are saving money to get a place and he we have like $96 so far and he need like 269 4 the bank should I give him...
What are some ways I can save money without spending it.? - 4 Answers
I have a really big problem with spending money .I want to save up for some thing big.But every time I get money in my hands ...
PayPal free way to get money? - 3 Answers
What is a free easy way to get a lot of money onto paypal?
What's an easy way to get money? - 1 Answers
okay I really need money fast. what is an easy way to get it quick?
How to save up money after college? - 1 Answers
I was wondering when I graduate from college and get a job, how will I pay for the rent and food I will need. I mean it's ki...
How can I make money at 13... Cant get a job anywhere any ideas? - 3 Answers
Ok. Im 13 I need ways to make good money to go out buy clothes... I've saved up lunch money so that way ill get £10 a week bu...

Ask an advisor one-on-one!

Can taking out money from my savings account affect the benefits I get?

Get Money

Savings 4 Savvy Mums

Get Me Moving

Online Accountant LLP

Mahila Samman Scheme: These w...