Q: Why did my savings account not automatically transfer funds for an overdraft?

The funds may have been unable to transfer from your savings account because 6 automatic transfers have already occurred this month. A federal regulation, called Regulation D, restricts the number of automatic transfers to 6 per month if the funds originate from a savings share account. According to Regulation D, an automatic transfer is a transfer done by phone, online, through iTalk or completed automatically for overdraft protection. Once the limit of 6 transfers has been reached, any additional transfers will need to be made at your local branch or through an ATM.

We apologize for the inconvenience; however, we must comply with this federal regulation.