Reminder about limits on some
savings transfers

In complying with the Federal Reserve Bank’s Regulation D, for each savings account the following transactions must be limited to a combined total of six per calendar month:

• Home Banking transfers* from savings to any other accounts (savings, checking, loan payment, etc.)
   
• Automatic transfers from savings to checking to cover overdrafts
   
• Telephone transfers from savings to other accounts (savings, checking, loan payment, etc.) when made through QuikLine or through a VACU employee, including faxed transfer requests
   
• Wire transfers, electronic drafts and all savings withdrawals payable to a third party, such as insurance drafts

As part of the six transactions, the following must be limited to three per calendar month:

• Point-of sale transactions from savings made with an ATM card

Once the combined limit of six per month has been met, additional transactions of these types will not be processed. Returned check fees may result.

Scheduled bill payments and transfers may not occur if funds are not available in the specified account and designated savings accounts for overdraft protection have reached a total of six for the month.

These Regulation D limits are in addition to VACU’s standard limits and fees, including excessive withdrawals, disclosed in the Account and Fee Disclosure you received when you opened your account.

Avoid inconvenience from limits on savings transfers

• Authorize direct deposits to go to your checking account rather than your savings account
   
• Adjust any payroll deductions to be in line with your normal spending habits
   
• Specify more accounts to be used for overdraft protection, such as other savings or checking accounts or a line of credit
   
• Confirm that immediate and scheduled transactions have been processed successfully by checking your balance or history.
   
• Plan ahead – when you call or go online for savings to checking transfers, make one large transfer instead of several small ones
   
• Balance your checking account regularly – use our online checking account balancing form or calculator

We’ll be glad to help you make changes to your accounts. Please contact Member Services. You can also contact us through Home Banking’s Secure Mail option.

*System limitations may allow transfer and payment confirmations to be issued even though the transactions cannot be processed. Please confirm that online transactions have been processed by checking your balance or history.