Why can we only make 6 savings to spending transfers per month?

Federal regulations limit the number of transfers from the Savings Account to a Spending Account to six (6) per month. The law states that after 6 transfers have been initiated within a month, the individual has to wait until the following month to initiate another transfer.

If you absolutely need to access funds from your Saving Account, we are happy to close your Savings Account which will then automatically transfer the remaining balance to your Spending Account. Please keep in mind, federal regulations state that once you close your Savings Account, you cannot open up a new one for 90 days.

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