Understanding Regulation D

What is Regulation D?

The federal rule, also known as Reg D, comes from the Federal Reserve Board. This rule limits certain transfers and withdrawals from your share savings account to six per month.

Regulation D is the federal government’s way of ensuring that banks and credit unions have the proper amount of reserves on hand. It also encourages people to use savings accounts as they are intended: to save money.

The law doesn’t apply to checking accounts, so they do not have the same withdrawals restrictions.

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

Are  ATM withdrawals included?

Unlimited withdrawal transactions may be made in person or at any branch location or at any ATM.

What can I expect when I reach six electronic withdrawals?

When 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.


It is also important to know,  if the month ends on a weekend, your transactions may only be counted through Friday.

For example:

June 30, 2019, is a Sunday, therefore the Reg D count will end on the last business day of the month which is Friday, June 28.


Can I still get money if I hit my limit?

Should you need to withdraw or transfer funds from your share account we will be happy to assist you in person at any of our branches or a Credit Union Service Center during normal operating hours.

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.