HOME > Personal Banking > Money Market Account > Compliance
FEDERAL RESERVE BOARD REGULATION D
In accordance with Federal Reserve Regulation D, the following apply to Money Market Checking and Money Market Savings Accounts:
Limitations on Money Market Checking Account — No more than a total of six (6) transfers/withdrawals (including telephone and pre-authorized transfers) may be made from your Account during each monthly statement cycle. A maximum of three (3) of the six allowable transfers/withdrawals may be made by check, draft, or point of sale. The date we receive the instrument for payment is considered the date of transfer/withdrawal.
Limitations on Money Market Savings — No more than six (6) telephone and pre-authorized transfers may be made from a Money Market Savings Account during each monthly statement cycle. The date we receive the transfer for payment is considered the date of transfer/withdrawal.
Applicable to Money Market Checking and Money Market Savings Accounts — Withdrawals or transfers by mail, in person at one of our offices, and through an ATM are unlimited and are not subject to the 6-transfer withdrawal limitation. Transfers/withdrawals in excess of the 6 transfer/withdrawal limitation as described above may be subject to a service charge. Additionally, if excessive withdrawals occur, we may either change your Money Market Checking or Money Market Savings Account (with advance notice) to a checking account or close your Account.
Account disclosure (PDF)
