We waive the penalty for customers who take their RMD, whether they walk in or have an automatic IRA distribution. All other walk in's are subject to penalty unless the IRA CD is at maturity. If we get a transfer request, we charge $75 and cut the check directly to the other institution, must be at maturity or a penalty is assessed.
We have an IRA Savings product which we do not assess any penalty for those who want to make frequent distributions, minimum $500 distribution at a time.
We waive the IRA CD penalty if a customer agrees to set up automatic distributions for anyone age 59 1/2 and older. This prevents the frequent walk in's and taking up staff time.
Hope this helps!