Hi All,

With regards to the six covered transfers for regulation D, would one of the covered transfers be for the bank taking out fees with regards to a covered transfer? Example: Business money market account where the customer has 5 wire transfers out of the money market account. The bank charges the customer a fee that is taken out once a month for the wire transfers. Would the fee that is taken out by the bank and paid to the bank be considered a covered transfer and put the customer at the six covered transfers?

I don't count bank fees as a covered withdrawal.

FWIW: We do not either.

Ditto