Am I limited to the amount of withdrawals and transfers I can make on my savings accounts?
Yes – Federal Regulation D requires financial institutions to restrict transfers and third-party withdrawals from savings accounts to six per month.
What transactions count toward the maximum of six per month?
Any combination of the following:
Transfers from your savings account to any other WSECU account (including alternate savings accounts) made via any of the following:
Overdraft transfer to checking
WSECU Contact Center
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 via Online Banking, Telephone Banking or Contact Center.
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
If you pay merchants with automatic withdrawals, set them up to come from checking rather than savings.
Set up your overdraft protection to utilize other options; e.g., a line of credit or Visa® credit card to prevent unanticipated withdrawals from your savings account. Learn more about overdraft options.
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