Common use of Transfer(s) from Savings/Money Market Deposit Accounts Clause in Contracts

Transfer(s) from Savings/Money Market Deposit Accounts. Federal regulations require us to limit, either by contract or in practice, the number of certain types of Transfers from savings and money market deposit accounts. You are limited to six (6) preauthorized electronic fund transfers per month. Each fund transfer through these Services from your savings or money market deposit account is counted as one of the six (6) Transfers permitted each calendar month. However, payments to your loan accounts with us are not counted toward this transfer limit for savings/money market deposit accounts. On regular savings accounts, we charge a fee for each withdrawal or transfer in excess of two per month. The amount of these fees and the minimum balances necessary to avoid these fees, where applicable, are set forth in the Truth in Savings Disclosure for your Account.