Money Market & Savings Account Transactions

Unlimited Transactions

• Automatic (Preauthorized) transfers for making loan payments held at Farmers Bank of Willards
• Transfers or Withdrawals made by mail, messenger, ATM or in person as: transfers to another Farmers Bank account or cash withdrawal
• Withdrawals initiated by telephone and consummated by a check mailed to the depositor
• Deposits by any method

Limited Transactions

Six per Month (Aggregated, not each)

• ACH Debits (example: automatic payment withdrawals arranged by insurance payments, utility companies)
• Complimentary Overdraft Sweep coverage from a Money Market account or Statement Savings account
• Internet Banking transfers
• Telephone transfers by call to bank employee or by Voice Access
• Checks made payable to third parties **Not currently offered by Farmers Bank of Willards
• Point-of-Sale transactions (example: debit card use at a grocery, convenience or department store or restaurant)

The bank has the authority and responsibility to monitor your Money Market, Passbook and/or Statement Savings account(s) for excessive withdrawal activity, and in doing so may dishonor and return any excess withdrawal item or close the account, cease paying interest or remove your ability to use access devises, such as ATM/Debit cards, Internet-Bill Pay services, Overdraft Sweep ability and access to our Voice Access system.

These limitations are defined in Regulation D (12 CFR 204) of the Lettered Regulations of the Board of Governors of the Federal Reserve System.