Common use of Transaction Limitation Clause in Contracts

Transaction Limitation. As defined by Regulation D, we reserve the right at any time to require not less than seven days’ notice in writing before each withdrawal from a dividend paying account other than a term share, or from any other savings account. And, during any month, you may not make more than six withdrawals or transfers from each account to another Credit Union account or yours (including transfers to checking accounts to cover overdrafts) or a third party by means of a preauthorized or automatic transfer, automated telephone request or Digital Banking, or similar order to a third party (excludes all checking accounts). If you exceed the transfer limitation set forth, your account may be subject to a fee and/or closure by the Credit Union.

Transaction Limitation. As defined by Regulation D, we reserve the right at any time to require not less than seven days’ days notice in writing before each withdrawal from a dividend paying account other than a term share, or from any other savings account. And, during any month, you may not make more than six withdrawals or transfers from each account to another Credit Union account or yours (including transfers to checking accounts to cover overdrafts) or a third party by means of a preauthorized or automatic transfer, automated telephone request telephonic order (Access Line) or Digital instruction, or Internet Banking, or similar order to a third party (excludes all checking accounts). If you exceed the transfer limitation set forth, your account may be subject to a fee and/or closure by the Credit Union.