Regulation “D” Notification (Savings Account Limitations)
Regulation D imposes a six transfer/withdrawal limit on savings accounts, which includes the following types of transactions:
- Pre-authorized or automatic withdrawals;
- Telephone transfers; or
- Transfers initiated by personal computer to another account at the same credit union or to a third party during a calendar month or statement cycle.
Transactions not included in the six transfer/withdrawal limit are as follows:
- Credits to an account;
- Transfers from a credit union account to the same credit union for purposes of repaying loans and associated expenses; and
- Transfers or withdrawals the member makes in person, through an ATM, by mail, by messenger, or by telephone (which results in the mailing of a share draft/check to the member).
If you are having issues with completing transfers via Audio Response or Online Banking, please confirm that you have not exceeded the transfer limits described above.
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