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Regulation D – Electronic Transfer Limits

What is Regulation D?
Federal Regulation D places a monthly limit on the number of transfers you may make from your savings accounts or money market accounts without your physical presence being required. Transfers affected by this regulation therefore include:

  • Transfers made using eBanking
  • Transfers made using telephone banking
  • Overdraft transfers (made automatically to cover insufficient funds in other accounts; see below)
  • Transfers made by a member service representative on your behalf
  • Preauthorized, automatic, scheduled or recurring transfers (see below)

You are allowed six such transfers per month, per account, but only three of those may be made by check (a check counts against the month in which it clears, not when it was written).

What transactions are not affected by Regulation D?
ATM transactions; transfers made to Extra Credit Union loans; transactions done in person at a branch (including shared branches); transactions sent in by mail with an original signature; eBill Pay and Presentment (which uses funds from your checking account).

What are my options once an account has reached its Regulation D limit?
You may complete withdrawals and transfers in person, by mail, or at an ATM.

If an account used for overdraft protection has reached its Regulation D limit, will overdraft requests be honored?
No, if the overdraft protection account is a savings account or money market account. In that case, you will receive a notice by mail and incur an insufficient funds change for every overdraft attempted beyond your monthly limit. However, if the overdraft protection account is a flexLINE loan (which is not affected by Regulation D) the overdraft will complete normally.

I have authorized a merchant to automatically withdraw payments from my savings account or MMA; do these count against my monthly limit?
Yes. These payments (which you might know as “ACH” or “EFT” transactions) follow Regulation D limitations. Any withdrawals attempted beyond your monthly limit will not be honored, and you will receive a notice by mail and incur an insufficient funds change. To avoid this situation, make automatic payments using something other than a savings account or money market account, such as a checking account. Contact the merchant to arrange this change, and be aware that your request could take more than a month to go into effect. Alternatively, consider using online bill payment and presentment to automatically send payments to the merchant, rather than authorizing the merchant to automatically withdraw payments.

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