Federal regulations limit the total number of electronic transfers and checks from any non-transactional account—Prime Share, Clubs, or Money Market—to six per account per month.

Electronic transfers include:

  • Transfers made online through Home Banking
  • Transfers made by phone (via Tower Talk 24 or a Member Service Representative)
  • Cross Member Transfers
  • Funds Transfers
  • Overdraft Transfers
  • Automatic debits or scheduled transfers
  • Transfers from a Prime Share or Club account to cover overdrafts for other accounts

If you exceed six electronic transfers and checks from a non-transactional account in a calendar month, any transfers over the six per account limit will be declined, and you will be charged a $20 fee. The date the check or transfer clears your account will determine whether the limit has been exceeded.

The six-transfer limit only applies to electronic transfers and checks from a non-transactional account. You can make unlimited transfers and withdrawals through the mail, at an ATM, or in person at a branch. Transfers made to a Tower loan account are not included in the six-transfer limit