system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Limited number of transfers from Savings accounts

I went to go transfer some cash from my savings to my checkings account, and again noticed something to the degree of "Federal law says you can only make six transfers out of your savings account per month"

ELI5 Please?
gpt
It's due to §204.2(d)(2) of the Reserve Requirements for Depository Institutions. For 5 year olds, that means "rules for banks set by the federal government", specifically, the section that defines what a savings account is, legally.

Basically, the limit on transfers is part of what designates a "savings" from a "checking" account that has unlimited transfers. Certain protections and features are included in a savings account (namely, accumulating interest or waiver of service fees), and without passing this requirement to legally be a savings account, it wouldn't qualify.