Federal Regulation D
Heartland Credit Union is required by the Federal Reserve Board (FRB) to limit the number of electronic withdrawals or transfers that a member can make from each savings or money market account (checking accounts have no limitations).
There is no minimum amount you may withdraw. During any statement period, you may not make more than six (6) withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable, or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to a fee of $25.00.
You are limited to six (6) of the following transfers or withdrawals, in any combination within the period of one calendar month:
- Electronic Transfers or withdrawals from savings (eBranch, MARS Touch Tone Teller)
- Electronic third party withdrawals, such as utility bills or insurance premiums.
- Overdraft transfer from your savings to your checking
- Telephone transfers from savings to checking, including telephone requests facilitated by Heartland employees.
There is no limit to the number of the following transactions:
- Cash Machine (ATM) transactions – except for daily limits imposed by Heartland Credit Union
- In person transactions
- Mail transactions request
- Line of Credit transfers to checking (overdraft protection).
These restrictions do not apply to your checking accounts. You may make unlimited transfers and withdrawals from your checking accounts.