Questions and Answers
Can a customer have six automatic transfers to a third party, whether by check or other means?
The rules under Regulation D state contain a prohibition against more than six transfers or withdrawals per month from a savings account by preauthorized, automatic, or telephonic means. Furthermore, no more than three of these 6 transfers or withdrawals can be by check, draft, debit card, or similar order.
(Posted: 07/26/2008)
