Yes. Regulation D (“Reg D”) is a federal law that limits the number of transfers and withdrawals that you can make from an interest-bearing account, such as a savings or money market account. According to Reg D, consumers are allowed up to 6 withdrawals per statement cycle, including telephone, electronic transfers, transfers within the VeraBank Online Banking and Mobile Apps, check or point-of-sale transactions.
This limit does not apply to the number of withdrawals you can make at an ATM, by mail, or at a VeraBank branch. This rule does not apply when the transfer is to a VeraBank Loan Account.
For VeraBank savings accounts, please also keep in mind that 2 free transfers or withdrawals are allowed per statement cycle; a $2 fee will be charged for each transfer or withdrawal over 2 in a statement cycle.