Regulation D
Federal Regulation D stipulates that financial institutions limit the number of transfers and/or withdrawals an individual is allowed to make from a money market or regular savings account to 6, and no more than 3 by check, per month. This regulation limits transfers made by Audio Response, Automated Clearing House (ACH), and overdrafts from savings to checking accounts.
To comply, we must limit the number of transfer you make from any savings or money market account to 6 per month and no more than 3 by check. This limitation affects the following transfers:
- Audio Response or Internet Banking
- Requests by Telephone
- Overdraft Transfers from your savings account to your checking account
- Pre-authorized ACH Transfers
The following transfers are not affected by Regulation D:
- Transfer from checking accounts
- Transfer from you Overdraft Protection Line of Credit Loan to your checking account
- Payroll Deductions or allocations
- ATM Transactions
How to Avoid Regulation D
- Have your Paycheck deposited directly into your checking account with Direct Deposit
- Use Tellers or ATMs for your Savings Account withdrawals
- Ask about our Overdraft Privilege Product
