Savings & Money Market Account Transfer Limits

A Federal Regulation limits certain types of outgoing transfers from a Savings or Money Market account each monthly statement period

Savings and Money Market accounts (like the Growth account in Virtual Wallet^®) have limits when it comes to outgoing transfers. While customers can transfer into savings accounts as often as they wish, a federal regulation limits how many times customers can transfer money out of these accounts in any one statement period.

Customers can make 6 outgoing transfers per month from a savings account.

Types of transfers that are limited to six (6) include:

• Online and mobile transfers
• Transfers via PNC Voice Banking
• Automatic transfers for Overdraft Protection
• Pre-authorized payments or transfers through Automated Clearing House (ACH)
• Wire Transfers
• Checks, Point of Sale (POS) Transfers, drafts or similar orders payable to a third party
  

Types of transfers from savings and money market accounts that are NOT limited to six (6) include:

• ATM transfers and withdrawals
• Branch teller transfers and withdrawals

There are consequences if the transfer limits are exceeded

If you exceed 6 transfers, you may be charged a fee and your savings or money market account will be converted to a non-interest bearing checking account.

If you have a Virtual Wallet, your Growth account will be removed from your Virtual Wallet. It will be converted to a separate non-interest bearing checking account. You'll be charged a fee, and will not see the Growth account in your browser or mobile app.

Tips for staying within the limits

• Plan ahead and try to limit the number of transfers from your savings or money market account each statement period
  
• Visit a PNC branch or ATM to make a transfer, if you're near your limit

Tips for Virtual Wallet customers

• Plan ahead each month and limit your transfers out of Growth.
• Use your Spend account for your daily spending and bill payments.
• Keep money in Reserve for your primary overdraft protection.