Account Transfer Limits Clause Samples
Account Transfer Limits. Transfers out of Customer’s non-transaction Accounts, including money market deposit accounts (“MMDAs”), are limited to not more than six (6) withdrawals per calendar month or statement cycle of at least four weeks for the purpose of transferring funds to another of Customer’s accounts (whether or not linked to a Service), making third party payments by means of preauthorized, automatic, or telephonic transfers, or transfers or withdrawals made by check, debit card, or other similar order made by Customer and payable to third parties. These limits are imposed by federal law. If the limits are exceeded, Bank reserves the right to charge a fee, close the Account, or reclassify the Account as a checking account which may reduce or eliminate the payment of interest on Available Balances.
Account Transfer Limits. Transfers out of your savings Account, including a money market deposit account (MMDA), to another account or to a third party by preauthorized, automatic, computer, or telephone transfer or by check, draft, debit card, or similar order are limited to six (6) per month in accordance with the agreement that governs the Account. These limits are imposed by federal law. If the limits are exceeded, we reserve the right to charge a fee, close the Account or reclassify the Account as a transaction account.
Account Transfer Limits. Transfers out of Customer’s non-transaction Accounts, including money market deposit accounts (“MMDAs”), are limited to not more than six (6) withdrawals per calendar month or statement cycle of at least four weeks for the purpose of transferring funds to another of Customer’s accounts (whether or not linked to a Service), making third party payments by means of preauthorized, automatic, or telephonic transfers, or transfers or withdrawals made by check, debit card, or other similar order made by Customer and payable to third parties. If the limits are exceeded, Bank reserves the right to charge a fee, close the Account, or reclassify the Account as a checking account which may reduce or eliminate the payment of interest on Available Balances.