Transaction Limitations

Transaction Limitations on Savings, Money Market and other "Non-Transaction" Accounts

All Advantis savings, money market, IRA savings, and deferred compensation accounts have transaction limits. We enforce these limitations to ensure that these accounts are considered “non-transaction” accounts under federal regulation. The government requires we establish reserve accounts based on funds on deposit in "transaction" accounts (such as checking), but there is no such requirement for "non-transaction" accounts. Money not held in reserve accounts can be better invested-primarily in loans to members. To qualify as a "non-transaction" account, we must limit out-bound transfers and withdrawals to no more than 6 per month. But not all transfers and withdrawals count toward the 6 transfer limit. Transfers or withdrawals that count against the 6 transfer limit include:
  • Checks;
  • Debits;
  • ACH transfers;
  • Telephone withdrawals and transfers;
  • Transfers made via on-line banking; and
  • Transfers to other deposit accounts at the credit union (such as a transfer to cover an overdraft).
The following do not count toward the 6 transaction limitation:
  • Transfer from a credit union account to pay loans at the credit union;
  • Withdrawals or transfers between your credit union accounts made via ATM;
  • Withdrawals or transfers between your credit union accounts made in person at the credit union;
  • Withdrawals or transfers made between your credit union accounts by mail or messenger; or
  • Withdrawals or transfers made by telephone that result in a check being mailed to the member.
The credit union cannot make exceptions to these transaction limits.