We would like to request, for the common good, that you inform the Secretariat well in advance (at least seven business days for a transfer and nine business days for a withdrawal in cash) when you need to make a large withdrawal from your account (in excess of EUR 50,000 or the equivalent in other AMFIE currencies). This will enable our Treasurer, who is responsible for all placements (always for the short or medium term), to take the necessary steps to fund such withdrawals in the most cost efficient manner.
In order to generate the highest possible returns on our savings accounts our Treasurer places the majority of funds entrusted to us with our financial partners for fixed periods so as to obtain the most favourable terms. Large withdrawals, if unannounced, often require us to break such contracts resulting in high penalties charges and loss of interest. This, of course, has a negative impact on the returns generated on our savings accounts.