What are the transaction limits for savings accounts?

Meridian Bank typically imposes certain transaction limits on savings accounts, which are generally established to encourage savings and manage operational costs. Customers may find that they can make an unlimited number of deposits into their savings accounts. However, federal regulations often limit the number of certain types of withdrawals and transfers to six per month for standard savings accounts. This includes electronic transfers, automated payments, and telephone requests. If a customer exceeds this limit, additional fees may apply, or the account might be reclassified as a checking account, which may have different rules. It is advisable for customers to review the terms and conditions associated with their specific savings accounts for details regarding transaction limits and associated fees. The most accurate and current information can typically be found on Meridian Bank’s official website.