Transactions

When it comes to transactions, all accounts are not created equal. There are "transaction accounts," such as share draft 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 share 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 share savings or money market account per calendar month or statement cycle. (The monthly limit is based on when the transaction is processes, not when the check or item was written or authorized.) If you make a combination of checks/drafts and automatic or preauthorized withdrawals, the total limit is still six.

Transaction Limits by Month Checking Savings Money Market
Deposits
In Person unlimited unlimited unlimited
By Transfer (i.e., direct deposit of payroll or Social Security) unlimited unlimited unlimited
By Mail unlimited unlimited unlimited
Transfers Between Accounts at the MariSol FCU
In Person 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 MariSol Loan (incl. Visa, Mortgage, or Credit Union fees) unlimited unlimited unlimited
Flex Teller Online Banking unlimited six six
By Automated Phone System (Flex Teller Audio Response) unlimited six six
By Phone Contact to a Member Service Representative unlimited six six
Transfers to Third Parties
By Check or Share Draft unlimited n/a six
By Debit Card/Check Card unlimited six six
By Automated Phone System (Flex Teller Audio Response) unlimited six six
By Phone Contact to a Member Service Representative unlimited six six
By Pre-Authorized Transfer (ACH) or Automatic Transfer unlimited six n/a
Flex Teller Online Bill Pay unlimited six six
By Fax unlimited six six
Withdrawals
In Person unlimited unlimited unlimited
At an ATM unlimited unlimited unlimited
Flex Teller Online Banking with the check or share draft made payable to the member and mailed to his or her address. unlimited unlimited unlimited
By fax with the check or share draft made payable to the member and mailed to his/her address. unlimited unlimited unlimited
By telephone with the check or share draft made payable to the member and mailed to his/her address. unlimited unlimited unlimited
*The Credit Union may require a member to give at least 7 days' notice before funds can be withdrawn - transaction restrictions as imposed by Regulation D.
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