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Transaction Limits

When it comes to transactions, all accounts are not created equal. There are "transaction accounts," such as checking accounts, that offer unlimited transactions in virtually any form. Then there are "non-transaction accounts" that are intended to foster fewer transactions. Federal law limits the transactions that can be made on  savings and money market accounts, which fall into this category.

What are the limits?
Federal Regulation D states that you may make no more than six (6) automatic or preauthorized transfers from your savings or money market account per statement cycle. (The limit is based on when the transaction is processed, not when the check or item was written or authorized.) If you make a combination of checks and automatic or preauthorized withdrawals, the total limit is still six.

*The bank may require a customer to give at least 7 days' notice before funds can be withdrawn - transaction restrictions as imposed by Regulation D.

 

Transaction Limits by Cycle

Checking

Savings

Money Market

Deposits

In Person

unlimited

unlimited

unlimited

By Transfer (i.e., direct deposit of payroll or Social Security)

unlimited

unlimited

unlimited

Transfers Between Accounts at CommunityBank of Texas

In Person (or by messenger)

unlimited

unlimited

unlimited

At an ATM

unlimited

unlimited

unlimited

By Mail

unlimited

unlimited

unlimited

Pre-Authorized or Automatic Withdrawals

unlimited

six

six

By Pre-Authorized Transfer to pay a CommunityBank Loan

unlimited

unlimited

unlimited

Through the Internet (Xpress Banking)

unlimited

six

six

By Automated Phone System

unlimited

six

six

By Phone Contact to a Telephone Representative

unlimited

six

six

Transfers to Third Parties

By Check

unlimited

n/a

six

By Debit Card/Check Card

unlimited

six

six

By Automated Phone System

unlimited

six

six

By Phone Contact to a Telephone Representative

unlimited

six

six

By Pre-Authorized Transfer (ACH) or Automatic Transfer

unlimited

six

six

Using Bill Pay

unlimited

six

six

By Fax

unlimited

six

six

Withdrawals

In Person

unlimited

unlimited

unlimited

At an ATM

unlimited

unlimited

unlimited

Through the Internet (Xpress Banking) with the check made payable to the customer and mailed to his or her address.

unlimited

unlimited

unlimited

By fax with the check made payable to the customer and mailed to his/her address.

unlimited

unlimited

unlimited

By telephone with the check made payable to the customer mailed to his/her address

unlimited

unlimited

unlimited

 

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