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Account Related
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Six transfers and/or withdrawals limitation - Regulation D (REG D)
Regulation D limits the amount of transfers, point of sale transactions and checks to a maximum combined total of six (6) per month. Any additional transaction made after the 6 covered transactions will incur a $15.00 excessive activity fee, per debit transaction. If you continue to exceed these limits, the bank will notify you and your account will be closed or converted into a regular checking account.
See below the type of transfers and withdrawals impacted by Regulation D.
UNLIMITED
Transfers and WithdrawalsLIMITED
Transfers and Withdrawals- In person (at a branch or shared banching service center)
- At an ATM
- By mail or messenger
- Unlimited deposits/transfers can be made into a savings and/or money market account
- Preauthorized Transactions
- Automatic transfers (scheduled ACH withdrawals)
- Telephone (including automated telephone banking)
- Fax
- Online banking or mobile banking
- Checks
- Automatic orverdraft transfers
- Point of sale transactions with ATM or debit card
- Any other similar order payable to third parties
Transfers to another account of the same owner at the same financial institution when made: - For loan payments
Withdrawals made by telephone only when: - The transaction results in a check mailed to that member.