Here's something from another bank:
Savings Accounts are governed by Federal regulations which limit the number of certain types of transactions. You are permitted no more than six (6) preauthorized, automatic, WEBbanc, PCBanc, Telebanc or telephone transfers to your other accounts or to third parties per calendar month. No more than three (3) of the six (6) transfers can be made by check, draft, point-of-sale transactions, or similar order made payable to third parties.
http://www.firstsouthernbank.com/fsb/bizsavings.htmlYes, it appears to apply to savings banks, commercial banks, and credit unions for certain types of accounts. Here is another URL:
http://www.telhio.org/regulation_d.html