Elimination of Excessive Withdrawal Fee for Savings & Money Market Accounts

Effective June 1, 2020, Byline Bank will no longer charge fees for excessive withdrawals (over 6 withdrawals or transfers per statement cycle) for savings or money market accounts.

The Federal Reserve Board recently removed the restriction of the 6 withdrawals or transfers, per-statement-cycle limit on savings and money market accounts, as part of an amendment to Regulation D. Byline chose to remove this fee for the best interest of our customers. This adjustment allows Byline customers to make an unlimited number of convenient transfers and withdrawals from their savings or money market accounts, particularly at a time when financial events associated with the coronavirus pandemic have made such access more urgent.

Questions? Contact Us.