Federal Regulations limit the number of transactions which may be performed each month on your Share Savings Account because it is designated a non-transaction account. The Chart below explains these limitations.
Checking Accounts provide unlimited transactions. These include withdrawals, electronic payments or transfers to other accounts.
Share Savings Account Transaction Limits
| Unlimited Transactions: | Limited to 6 per calendar month: |
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Limited to 3 per Calendar Month:
(counts as part of the 6 total transactions per month) |
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Helpful Tip: If you set up automatic debits to your account to pay a regular bill, arrange to have funds deducted from your Checking Account (S9), which is a transaction account. Checking transactions are unlimited, so you will avoid the risk of a rejected payment resulting from Regulation D transaction limitations on your savings account.