Federal regulations require American Spirit Federal Credit Union to limit the number of withdrawal transactions on savings accounts or money market accounts during a month.
During any month, you cannot make more than six withdrawals or transfers to another account through the following actions:
- Pre-authorized transactions
- Automatic transfers
- Transfers made by a member service representative on your behalf
- Internet Banking
- Audio response
- Overdraft from savings
- Telephone, email or fax The credit union is required to take the necessary steps to ensure that excess transactions do not occur. Transfers/withdrawals in excess of the six per month limit on applicable accounts may be subject to a $20 excessive transaction fee. The following transactions are not affected by Regulation D:
- ATM transactions
- Transfers made to a loan
- Transactions done in person at a branch
Remember a checking account is always a better option and will help you save – with no fees. Please contact the credit union if you have any questions.