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DisclosuresImportant Information
Transfer Limits:
Federal regulations require that we limit the number of pre-authorized, automatic, or telephonic transfers on nontransaction accounts.
The following NHFCU accounts are considered non-transaction accounts:
Share accounts (savings)
Club accounts
Money market share accounts
Certificate accounts The only account at NHFCU that is considered a "transaction account" is a share draft (checking) account. Pre-authorized, automatic, or telephonic transfers include the following:
Bill Payer payments from a Share, Club, or Money Market Share.
DirectLine 24-hour Telephone withdrawals to transfer funds.
e-branch online withdrawals to transfer funds.
Telephone authorized withdrawals that transfer funds.
Pre-authorized payments from a Share, Club, or Money Market Share to pay a third party, such as automatic deductions for:
life insurance,
health club membership fees,
Internet online service provider fees,
and other automatic withdrawals sent to third parties. Limitations
Each month, there may be no more than six transfers out of a nontransaction account, three of which may be by check. Transactions that count toward the three-check limit are:
- Money Market Share drafts written in any month, but paid all in the same month. This means there is a monthly limit of three checks from a Money Market Share Account. NHFCU rejects transfers from savings without your signature after the sixth transfer each month. We also monitor Money Market Share Accounts at the end of each month to determine whether the three-check limitation is exceeded. There is a fee of $20 per check if more than four are paid in a month, and a notice is mailed. If Money Market Share check limitations are exceeded in more than one statement period, the account is subject to closure by the Credit Union and/or drafts may be returned unpaid. Transfers that are not counted are:
ATM withdrawals from shares to transfer funds to a Draft Account.
Bill Payments that come out of your Share Draft (checking) account.
Telephone, DirectLine or Bill Payer requests for a check withdrawal.
Other transfers that have your signature. If you have any questions, please contact us.
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