My bank limits the number of transfers from my Money Market Deposit Account to six, when they are preauthorized. Should a loan payment to the same bank count as one of the six?
It doesn't have to. The bank is restricted by regulation on the number of transfers you are allowed. The bank is responsible to ensure that the limit is adhered to as well. If this is not done, the bank can be penalized and your account can be closed or switched to a different product such as a NOW account or a regular checking account.
Loan payments to the bank which holds the deposit do not have to be included in the six-count. Some banks however, may find it easier to count this and they can be more restrictive than the regulation requires, but they may not be less restrictive. Some banks may also allow the additional transfers, but charge a fee for them. This is allowed as well and is subject to the agreement you have with your bank.
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It doesn't have to. The bank is restricted by regulation on the number of transfers you are allowed. The bank is responsible to ensure that the limit is adhered to as well. If this is not done, the bank can be penalized and your account can be closed or switched to a different product such as a 