Hi Bec0623, thank you for your post in our community. These are great questions regarding Regulation D excessive transactions. Withdrawals that count towards your six per month include: transfers made to another of your bank accounts, a third party bank account, or another line of business; overdraft protection transfers; wire transfers; and bill payments. ATM withdrawals, official checks, deposit reversals and bank fees do not count towards the six per month. If you do exceed six transactions during your statement cycle, you will first receive a notification from us advising of the regulation. If you exceed six transactions a second time within a 12 month period, you will receive another notification in the mail and will be charged a $5.00 fee per transaction over the six for that month. If it happens a third time, you will receive a final notification, be charged $5.00 per transaction over the six for the month, and the account will be converted into a checking account. Also, please note that if you do not repeat the violation within the 12 month period, the number of violations is cleared. I hope this has been helpful, and please don't hesitate to let us know if we can assist in any way. -Meredith
Babbage - Good question. Regulation D has not changed. With that in mind, the previous response is still accurate. I hope this information has been helpful. Please let us know if you have any questions or concerns. - Jason
@Dee1999, once your account gets changed to a checking account it cannot be converted back to a savings. However, you can inquire about opening a new savings account 90-days after your account was converted to a checking account. I hope this information helps. - Janay
@Cnik, a statement cycle is one month. You can see how many withdrawals you have in your statement cycle by reviewing your account transaction history. The beginning of your cycle will be on the date your interest has been paid into the account. I hope this helps.