Why am I limited in the number of transactions I can perform with my STCU savings and money market accounts?
Posted on 08 July 2016 09:56 AM

All financial institutions, including STCU, must comply with the federal regulation known as Regulation D. This regulation requires us to limit the number of "remote" transactions that you can make online, by telephone, or by check. However, there is no limit to the number of transactions you may make in person at the branches or at certain ATMs. Other transaction types that are exempt from Regulation D are explained in further detail below.

Importantly, these rules apply on the federal limitation of "remote" transactions:

  • You can make no more than six "remote" transactions per month.
  • Transfers or payments performed by any of the following methods are considered "remote":
    • STCU's online banking
    • STCU's telephone banking
    • ACH transfer
    • request by telephone
    • request by fax
    • overdraft transfer to checking

Attempts to exceed these limitations with electronic systems like STCU's online banking or telephone banking or through other channels that cause you to exceed these limits may result in a fee being assessed to your account, so use caution.

What transactions don't count as "remote"? You can perform as many of the following transactions as you like from your savings or money market account, without facing the limitations described above:

  • Transfers and withdrawals made at ATMs (where available)
  • Transfers and withdrawals made in person at branches
  • Transfers and withdrawals made in writing through the mail
  • Transfers to STCU to make your loan or credit card payments
  • Checks issued by phone and made payable to you
  • Any deposits into your STCU savings or money market account.

Tip: If you must perform a large number of transactions against a sum in your savings or money market account, your best bet is often to make a single large transfer from that account to your STCU checking account (which has no "remote" limitations), and then use those funds that you've added to your checking account to transact your business as needed.

Revised: 07/08/2016
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