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Money market accounts have many restrictions that you must consider and research before you invest any money in one. The first is minimum deposit to open. While in some accounts you can deposit less than the minimum you will be charged a fee for having less money in the account than the allotted minimum. This is also something to look into for when you are taking money out of the account to make sure you stay above the minimum to keep fees at bay. Second is to look into maximum number of monthly withdrawals. Most accounts have limits on how many withdrawals you can make in a month. Some will allow 3 and some will allow more, it is important to know your limits. Finally look out for limits on writing checks against your money marketing account. Unlike in your personal checking account where you can write as many checks against your account that you need or want money market accounts have very restrictive limits on how many checks you can write against your account.
Phone or email the company and cancel your account, Some firms will not cancel , the only way then is go to your bank tell them you have lost your card they will replace it with another account number . and the company will no longer be able to take your money.
Write them a letter directing them to stop the charges. Stop the bleeding, first! You may have to call customer service to plead your case for a refund.
You need to contact whom ever is deducting the money or cancel you account the bank and request a unauthorized debit form to get the money back. Call your bank 1st thing.
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