What is Regulation D?
Please be aware that according to Federal Regulation D (Reg D) as put forth by the Board of Governors of the Federal Reserve System, all share (savings) accounts are limited to six electronic transfers/withdrawals during any one calendar month period.
Electronic transfers/withdrawals consist and are defined by any combination of the following:
- Transfer from share account using Info-Line telephone banking
- Electronic transfers from shares to cover checking account overdrafts
- Transfer from share account using SmartLink home banking or mobile app
- ACH debits (pre-authorized withdrawals) from your share account
- Transfer requests from shares via the telephone
What about ATM withdrawals?
What happens when I reach six electronic withdrawals?
Also note, if your share account reaches the regulation D six (6) electronic transfer/withdraws limit for the month, Your transaction(s) may be returned, and a fee may be applied.
Further Reg D electronic transfers/withdraws will be prohibited for the rest of the applicable month. Returned items carry a fee for each item.
For a listing of locations and hours click here.
Please contact our E-Services Department if you have any questions or concerns about fees or Reg D.