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Can I make unlimited online transfers from my Savings and Money Market Accounts?

April 26, 2017accounts Money Market online savings transfers Unlimited

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Can I make unlimited online transfers from my Savings and Money Market Accounts?

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No, withdrawals from all Savings and Money Market Accounts are limited by Regulation D (Reg D). This is a federal regulation all financial institutions must follow. It puts restrictions on the number of withdrawal transactions through electronic channels that are allowed on Savings and Money Market Accounts. Reg D limits these withdrawals to six (6) per month. After the six (6) per month, there is a $1.00 per online withdrawal fee.