Transfer Limits for Savings and Money Market Accounts Sample Clauses

Transfer Limits for Savings and Money Market Accounts. Federal regulations require that, during each statement period, you may not make more than six withdrawals and transfers, or a combination of such withdrawals and transfers, from any of your Savings or Money Market Accounts to another Account of yours (other than for the purpose of making a Credit Union loan payment) or to a third party by means of a preauthorized or automatic transfer (including automatic overdraft protection transfers and transfers using the Telephone Teller, Online Banking, and Mobile Banking Services). If excessive preauthorized or automatic transfers and withdrawals activity continues to occur on your Savings or Money Market Accounts, we may impose transfer and withdrawal restrictions on those Accounts, and the Accounts will be subject to closure or denial of Services. ATM withdrawals, in-person withdrawals, and withdrawals by mail do not count toward federal transfer limits. You authorize us to charge any Account of yours without notice for any fees owing to us. Please contact us if you need help understanding the Regulation D transfer limits and how to avoid fees on your Savings and Money Market Accounts.
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Transfer Limits for Savings and Money Market Accounts. We may charge an Excessive Share Withdrawal Fee as set forth in our Fee Schedule if you make more than three in person cash and/or check withdrawals or fund transfers, or a combination of such withdrawals and fund transfers, from your Regular Savings Account during any calendar month. In addition to the foregoing, Federal Reserve Board regulations require that, during each statement period, you may not make more than six withdrawals and transfers, or a combination of such withdrawals and transfers, from any of your Savings or Money Market Accounts to another Account of yours (other than for the purpose of making a Credit Union loan payment) or to a third party by means of a preauthorized or automatic transfer (including automatic overdraft protection transfers and transfers using the Audio Response, Home Banking, and Mobile Banking Services). If you exceed this transfer limit, we will charge an Excessive Reg. D Withdrawal Fee as set forth in the Fee Schedule for each transaction in excess of the limit. Further, if excessive preauthorized or automatic transfers 5 {00380192.DOCX} and withdrawals activity continues to occur on your Savings or Money Market Accounts, we may impose transfer and withdrawal restrictions on those Accounts, and the Accounts will be subject to closure. ATM withdrawals, in-person withdrawals, and withdrawals by mail do not count toward the Regulation D transfer limit. You authorize us to charge any Account of yours without notice for any fees owing to us. Please contact us if you need help understanding the Regulation D transfer limits and how to avoid excessive withdrawal fees on your Savings and Money Market Accounts.
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Related to Transfer Limits for Savings and Money Market Accounts

  • Certain Savings Accounts 1. An account established and maintained in the Slovak Republic that satisfies any of the following:

  • Disclosure Statement for Xxxxxxxxx Education Savings Accounts 1. Who is Eligible for a Xxxxxxxxx Education Savings Account? Anyone may contribute to a Xxxxxxxxx Education Savings Account regardless of his or her relationship to the beneficiary. The beneficiary of a Xxxxxxxxx Education Savings Account

  • Accounts Excluded from Financial Accounts The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • 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.

  • Financial Institution with Only Low-Value Accounts An Estonian Financial Institution satisfying the following requirements:

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • Accounts for Minors We may require any account established by a minor to be a joint account with an owner who has reached the age of majority under state law and who shall be jointly and severally liable to us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay funds directly to the minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners.

  • Special Accounts 1. For the purposes of this Schedule:

  • Account Limitations Limitations are implemented to help protect PayPal, buyers and sellers when we notice restricted activities, an increased financial risk, or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your PayPal account open. There are several reasons why your PayPal account could be limited, including: • If we suspect someone could be using your PayPal account without your knowledge, we’ll limit it for your protection and look into the fraudulent activity. • If your debit or credit card issuer alerts us that someone has used your card without your permission. Similarly, if your bank lets us know that there have been unauthorized transfers between your PayPal account and your bank account. • In order to comply with applicable law. • If we believe in our sole discretion that you have breached this agreement or violated the Acceptable Use Policy. • Seller performance indicating your PayPal account is high risk. Examples include: indications of poor selling performance because you’ve received an unusually high number of claims and chargebacks, selling an entirely new or high-cost product type, or if your typical sales volume increases rapidly. Unless a permanent limitation is placed on your account, you will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect PayPal, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

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