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how many transfers can i make from my savings account to checking account
November 24, 2017 12:50:36 PM
1 person recommended this |
In reply to Dhaval, Secaucus
Thanks for stopping by TD Helps with a great question, Dhaval!
There is a government regulation, called Regulation D, which limits the number of monthly transactions you can make from Money Market and Savings Accounts. You can still make unlimited transfers from a Checking account.
Money Market and Savings Accounts are limited to six total electronic debit transactions per statement cycle. Electronic transactions can include ACH payments, wire transfers, and phone or online transfers from the account. In the case of Money Market accounts, a check drawn on the account may also be considered an electronic debit.
Should you exceed the transaction limit, a fee may be charged. You can find info about this fee in our Personal Fee Schedule here: https://go.td.com/2kFZ5mK. The first two times that you exceed the limit, we'll send you a letter in the mail to notify you. If it occurs a third time, we will convert the account to a transactional account.
There are some transactions that are unlimited if you have a Savings or Money Market account. If you ever feel that you're cutting it close for that statement cycle, remember that over the counter withdrawals, ATM withdrawals, ATM transfers, and in person transfers are all unlimited!
We hope this helps explain, Dhaval. If you have any additional questions, please don't hesitate to give us a call 24/7 at 888-751-9000 or stop in to see us at any of our Stores. To find one near you, please click here: https://go.td.com/1nq31dc.
We hope you have a great weekend!
Candice A, Mount Laurel
November 24, 2017 12:51:08 PM