What is Regulation D?
Federal Regulation D places a monthly limit on the number of transfers you may make from your Savings Account without your physical presence being required. Transfers affected by this regulation include:
§ Transfers made using Audio Response
§ Transfers made using Online Banking
§ Overdraft transfers made to cover insufficient funds in other accounts
§ Transfers made by a Teller or Member Service Representative via telephone
§ Pre-authorized, automatic, scheduled or recurring transfers
You are allowed six (6) transfers per month, per savings account.
What transactions are not affected by Regulation D?
§ ATM withdrawals
§ Transfers made to DOCCU loans
§ Transactions made in person at a branch
§ DOCCU Bill Pay which uses funds from your checking account.
Tips to help you manage your savings accounts and avoid Regulation D limits:
§ Plan ahead and make one large transfer instead of several small transfers. Each regulated transaction counts as one transaction, no matter what the dollar amount is.
§ Balance your checking account on a regular basis to limit the number of overdraft transfers from your savings account.
§ Set automatic ACH withdrawals from merchants to debit your checking account instead of your savings account since checking transactions are not subject to Regulation D.
If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?
If the source of overdraft protection is a savings account, we may return items once the number of transfers has been exceeded. You will receive a notice by mail, and incur an NSF fee for every overdraft attempt beyond your monthly limit. However, Overdraft Loans are not subject to Regulation D and the overdraft will complete normally. To apply for the Overdraft loan, you may apply online or contact your nearest branch location.
FEDERAL RESERVE REGULATION D IS A DIRECTIVE OF THE GOVERNMENT, NOT OF DOCCU