Common use of Limits on Transfers Clause in Contracts

Limits on Transfers. You are not limited to the number of transfers you can make on passbook, statement savings, money market and other types of savings accounts in person, by messenger or through an ATM. However, federal regulations limit the number of transfers and electronic payments from such accounts to a maximum of six (6) per monthly statement cycle from the following categories: preauthorized transfers, including overdraft protection; telephone transfers; electronic transactions, including transactions through our online banking service (“Essex Online Banking”); checks, Check Card payments to third parties; Automated Clearing House (ACH) transactions and wire transfers. The limitations on preauthorized transfers do not apply to preauthorized transfers made to pay loans you have with us. If you exceed the limitations set forth above for 2 (two) consecutive months, we may be required to close the account, take away the account’s transfer capabilities, or convert the account to a NOW account or checking account. You may be charged a penalty as itemized in our Schedule of Business Account Charges if you exceed these limitations.

Limits on Transfers. You are not limited to the The number of transfers you can make on passbook, statement savings, money market and other types of savings accounts in person, by messenger or through an ATMATM are not limited. However, federal regulations limit the number of transfers and electronic payments from such accounts to a maximum of six (6) per monthly statement cycle from the following categories: preauthorized transfers, including overdraft protection; telephone transfers; electronic transactions, including transactions through our online banking service (“Essex Online Banking”); checks, Check Card check card payments to third parties; Automated Clearing House (ACH) transactions and wire transfers. The limitations on preauthorized transfers do not apply to preauthorized transfers made to pay loans you have with us. If you exceed the limitations set forth above for 2 3 (twothree) consecutive months, we may be required to close the account, take away the account’s transfer capabilities, or convert the account to a NOW account or checking account. You may be charged a penalty as itemized in our Schedule of Business Consumer Account Charges if you exceed these limitations.

Limits on Transfers. You are not limited to the The number of transfers you can make on passbook, statement savings, money market and other types of savings accounts in person, by messenger or through an ATMATM are not limited. However, federal regulations limit the number of transfers and electronic payments from such accounts to a maximum of six (6) per monthly statement cycle from the following categories: preauthorized transfers, including overdraft protection; telephone transfers; electronic transactions, including transactions through our online banking service (“Essex Online Web Banking”); checksChecks, Check Card payments to third parties; Automated Clearing House (ACH) transactions and wire transfers. The limitations on preauthorized transfers do not apply to preauthorized transfers made to pay loans you have with us. If you exceed the limitations set forth above for 2 3 (twothree) consecutive months, we may be required to close the account, take away the account’s transfer capabilities, or convert the account to a NOW account or checking account. You may be charged a penalty as itemized in our Schedule of Business Consumer Account Charges if you exceed these limitations.

Limits on Transfers. You are not limited to the number of transfers you can make on passbook, statement savings, money market and other types of savings accounts in person, by messenger or through an ATM. However, federal regulations limit the number of transfers and electronic payments from such accounts to a maximum of six (6) per monthly statement cycle from the following categories: preauthorized transfers, including overdraft protection; telephone transfers; electronic transactions, including transactions through our online banking service (“Essex Online W eb Banking”); checks, Check Card payments to third parties; Automated Clearing House (ACH) transactions and wire transfers. The limitations on preauthorized transfers do not apply to preauthorized transfers made to pay loans you have with us. If you exceed the limitations set forth above for 2 (two) consecutive months, we may be required to close the account, take away the account’s transfer capabilities, or convert the account to a NOW account or checking account. You may be charged a penalty as itemized in our Schedule of Business Account Charges if you exceed these limitations.