Savings Transfer Limits
We know it's important to be able to use your savings whether for a rainy day or that great vacation you've been planning. We want to help you plan ahead to have access to those funds when you need them. As you do, it's important to take savings transfer limits into consideration.
Federal Regulation D requires financial institutions to restrict transfers and third-party withdrawals from savings accounts to six per month. Read on for details to help you avoid reaching the transfer limit and for alternatives if you need to access your savings after you've reached it.
Limited Transactions
Any combination of the following transactions count toward your six transfers limit per calendar month:
- Transfers from your savings account to any other WSECU account (including alternate savings accounts and your checking account) made using any of the following services:
- Online Banking
- Telephone Banking
- Overdraft transfer to checking
- WSECU Contact Center
- Automatic Withdrawal
- Any pre-authorized automatic withdrawals or Point of Sale transactions from your savings account.
- Any check withdrawal from savings made payable to a third party requested via Online Banking, Telephone Banking or our Contact Center.
Unlimited Transactions
The following transactions are not limited by Regulation D:
- ATM withdrawals and transfers
- Transfer requests made in person
- Transfer requests received by mail
- Payments made from savings to WSECU loans
- Written transfer requests deposited in the Night Drop
Helpful Tips
- If you pay merchants with automatic withdrawals, set them up to withdraw from checking rather than savings.
- You can set up your overdraft protection to utilize other parts of your account, like a line of credit or Visa® credit card, to prevent unanticipated withdrawals from your savings account.
