I just checked with my bank (not a credit union, USA-based), and found the following:
Quote:
|
Federal Regulations limit the number of transfers you can do between accounts electronically to six (6) in any calendar month. Once you have reached that limit, you will need to transfer by some other means, such as an ATM or in your local branch.
|
Unfortunately, it didn't cite the source of the regulation, or even better the reasons behind it.