Are there excessive withdrawal limits when transferring from my Money Market or Savings Accounts?
Due to Federal Regulations, the customer is permitted or authorized to make no more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per month or statement cycle (at least four weeks) to another account of the depositor at the same institution or to a third party by means of a preauthorized or automatic transfer or telephone agreement and not more than three of the six such transfers may be made by check, draft, debit card, or similar order made by the depositor and payable to third parties.
Due to Federal Regulations the customer may not make more that six transfers or withdrawals per month or statement period, no more than three of which can be payable to third parties, when these transfers are made by means of a pre-authorized or automatic transfer, or telephonic agreement, order or instruction, including Internet Banking. Any of the three third party transfers count toward the six monthly transfers.
