Restrictions on Transfers from Savings and Money Market Accounts Sample Clauses

Restrictions on Transfers from Savings and Money Market Accounts. The number of withdrawals or transfers from Cornerstone Bank accounts is limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts. Deposits: You may make an unlimited number of deposits into a savings or money market account by any method. Withdrawals/Transfers: You may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, including withdrawals and transfers initiated by check, draft, debit card (if applicable) or similar order to a third party. Unlimited withdrawals are permissible in the following instances: automatic (preauthorized) transfers for the purpose of paying loans at our institution; transfers or withdrawals made by mail, messenger, ATM or in person; withdrawals initiated by telephone and consummated by a check mailed to you. DISCLOSURE OF ACCOUNT INFORMATION AND TRANSFERS Cornerstone Bank is committed to protecting your security and confidentiality. We will guard your information from third parties except for the following reasons: - Where it is necessary for completing transfers - In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant - In order to comply with laws, government agency rules or orders, court orders, subpoenas, or other legal processes - In order to give information to any government agency or official having legal authority to request legal processes - If you give us written permission PERIODIC STATEMENTS The date and amount of transfers made through the Internet Banking System will be shown on the Internet Banking System screen and will also be shown on your statement for the accounts from which and to which the transfer was made.
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Restrictions on Transfers from Savings and Money Market Accounts. Your ability to make transfers from your savings accounts and money market account is restricted by Federal Reserve Board Regulation D. For each savings/money market account, you may make up to six transfers or withdrawals by means of preauthorized, automatic, telephonic or computer transfer to another account of yours or to a third party or by check, debit card, or similar order to a third party during any statement cycle. The following transfers do NOT count towards these limits:
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Restrictions on Transfers from Savings and Money Market Accounts. Under Federal Reserve Board Regulation D, you may make an unlimited number of deposits or transfers into a savings or money market account; however, you may make no more than six transfers or withdrawals out of such an account per month (not counting transactions made at ATMs or at banking locations). Transfers made by telephone, personal computer or funds automatically transferred from a savings or money market account to another deposit account for overdraft protection are counted toward the six total permitted monthly transfers or withdrawals. If your transactions exceed the legal limit, we will charge you a fee for each additional transaction in excess of the legal limit. If you exceed the restrictions more than three times during a 12-month period, we will close the savings or money market account and transfer the funds to a checking account. On regular savings accounts, we charge a fee for each withdrawal or transfer in excess of six per calendar quarter. The amount of these fees and the minimum balances necessary to avoid these fees, where applicable, are set forth in the account documents provided with your account, and any subsequent amendments.
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Restrictions on Transfers from Savings and Money Market Accounts. Under Federal Reserve Board Regulation D, you may make an unlimited number of deposits or transfers into a savings or money market account; however, you may make no more than six transfers or withdrawals out of a money market account per monthly statement cycle and six transfers or withdrawals per quarter for savings accounts. (Not counting transactions made at ATMs or at a bank office). Transfers made by telephone, personal computer or funds automatically transferred from a savings or money market account to another deposit account for overdraft protection are counted toward the six total permitted monthly transfers or withdrawals. If your transactions exceed the legal limit, we will charge you a fee for each such transaction in excess of the legal limit.
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Related to Restrictions on Transfers from Savings and Money Market Accounts

  • Restrictions on Payments An employee shall not be entitled to payment for inclement weather as provided for in this clause unless the employee remains on the job until the provisions set out in this clause have been observed.

  • Restrictions on Transfers (a) Except as provided in Section 4.8(e), notwithstanding the other provisions of this Article IV, no transfer of any Partnership Interests shall be made if such transfer would (i) violate the then applicable federal or state securities laws or rules and regulations of the Commission, any state securities commission or any other governmental authority with jurisdiction over such transfer, (ii) terminate the existence or qualification of the Partnership under the laws of the jurisdiction of its formation, or (iii) cause the Partnership to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes (to the extent not already so treated or taxed). The Partnership may issue stop transfer instructions to any Transfer Agent in order to implement any restriction on transfer contemplated by this Agreement.

  • Certain Agreements Related to Deposits Subject to Section 2.2, the Assuming Institution agrees to honor the terms and conditions of any written escrow or mortgage servicing agreement or other similar agreement relating to a Deposit liability assumed by the Assuming Institution pursuant to this Agreement.

  • Limitations on Transfers Federal regulations limit transfers for savings accounts and money market accounts, if applicable. During any statement period, you may not make more than six withdrawals or transfers to another Credit Union account of yours or to a third party by means of a pre-authorized or automatic transfer. This includes transfers by phone, fax, wire and cable, audio response, overdraft transfers to checking and Internet instruction. No more than three of the six transfers may be made by check, draft or debit card, or similar order to a third party. A pre-authorized transfer includes any arrangement with us to pay a third party from your account upon oral or written orders including orders received through the automated clearinghouse (ACH). If you exceed the transfer limitations set forth above in any statement period, the transfer may not be completed, your regular share account and draft account may be subject to a fee, account closure, or suspension or we may revoke your access to Online Banking. We will not be required to complete a withdrawal or transfer from your account(s) if you do not have enough money in the designated account(s) to cover the transaction; however, we may complete the transaction. You agree not to use Online Banking to initiate a transaction that would cause the balance in your designated account(s) to go below zero. If you have a line-of-credit, you agree not to use Online Banking to initiate a transaction that would cause the outstanding balance of your line-of-credit to go above your credit limit. We will not be required to complete such a transaction, but if we do, you agree to pay us the excess amount or improperly withdrawn amount or transferred amount immediately upon our request. We also will refuse to complete your Online Banking transactions if we have canceled your Online Banking access, or we cannot complete the transaction for security reasons. The functions and limitations of Online Banking may be updated, without notice, at the option of the Credit Union in order to provide improved service to the membership.

  • Transfers and Rollovers The Custodian can receive amounts transferred or rolled over to this Xxxx XXX from the trustee or custodian of another Xxxx XXX as permitted by Code or applicable Regulations. The Custodian reserves the right not to accept any transfer or rollover.

  • Deduction of Rollovers and Transfers A deduction is not allowed for rollover or transfer contributions.

  • Additional Procedures Applicable to High Value Accounts 1. If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting [FATCA Partner] Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014. If based on this review, such account is identified as a U.S. Reportable Account, the Reporting [FATCA Partner] Financial Institution must report the required information about such account with respect to 2013 and 2014 in the first report on the Account. For all subsequent years, information about the account should be reported on an annual basis.

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

  • Transfers From Other Plans We can receive amounts transferred to this Xxxx XXX from the trustee or custodian of another Xxxx XXX as permitted by the Code. In addition, we can accept rollovers of eligible rollover distributions from employer-sponsored retirement plans as permitted by the Code. We reserve the right not to accept any transfer.

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