So far, so good. Transfers to cover an overdraft in another account will count toward the limit. However, if a transaction account is covered with an overdraft line of credit, transfers from a savings/MMD account to pay down the line of credit will ordinarily not be counted.
I say "ordinarily" because schemes where an overdraft is "routed" through a line of credit and paid off the same day by a transfer from savings/MMDA to the OD line are not looked upon with favor by regulators. They are what they appear to be: attempted end-runs.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8