Account Transaction Limitations
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.)
Please note: 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*The bank may require a customer to give at least 7 days' notice before funds can be withdrawn - transaction restrictions as imposed by Regulation D.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 |