There are certain restrictions on the number of transfers you can make from your HSBC savings or money market accounts.
Your ability to make transfers from your savings or money market account is restricted by Federal Reserve Board Regulation D. For each money market account or savings account, you are limited to 6 pre-authorized, automatic, computer or telephone transfers in any calendar month. These transfers include transfers made through Personal Internet Banking.
The following transfers do not count towards the limit:
(NOTE:) Federal Reserve Regulation D requires the bank to monitor all such accounts for activity exceeding certain limits and to remind the customer of these limits and/or take appropriate action when the bank finds that the customer has exceeded these limits in any calendar month.
Once a savings or money market account has violated the Regulation D limits, HSBC will notify you and may convert the account to a transaction type account or close the account.
You can take these easy steps to comply with Federal Regulation D: