Money Market Account

Answered by:

Question:

Do Internet banking transfers from a Money Market account to a transaction account count in the 6/3 rule?

Answer:

Yes, these types of transfers would count toward the limit of six transfers per month limit. They would not count toward the three transfer limit that applies to checks, drafts, & similar instruments payable to 3rd parties.

First published on BankersOnline.com 10/1/01