What is the Reg-D Fee and what is Regulation-D?

Federal regulations govern the transactions we can allow members to make from their savings accounts. One regulation (called Regulation D) states that certain withdrawals and/or transfers must not exceed six per month. We do allow withdrawals and transfers beyond the limit, but there is a $10.00 fee for each one beyond the first six. Please read further for information on which types of transactions are affected, which are excepted, and a list of ways for you to avoid the fee.

The types of savings withdrawals and/or transfers that must not exceed six per month are:  

  • Transfers from savings to checking by phone, Telephone Banking,Online Banking, e-mail, fax or automatic transfer.
  • Savings to Savings transfers.
  • Savings withdrawals to pay a bill or other third party by phone, e-mail, or fax.
  • Preauthorized withdrawals from savings to pay a bill or other third party.
  • Transfers from savings to another member's account.
The types of savings withdrawals and/or transfers that are not limited:  
  • Any transfer from savings to your credit union loan account.
  • Any withdrawal checks payable directly to you.
  • Any withdrawals or transfers requested in person, requested by mail, or made using an ATM.
Here are some suggestions to help you avoid Regulation D penalties: 
  • When transferring money from savings to checking, increase the amount so transfers won't be needed as often.
  • Add Overdraft Protection (a line of credit) to your checking account.
  • Keep more funds in your checking account instead of savings.
  • Transfer funds while you're at the ATM.
  • Change preauthorized withdrawals so they're taken from checking rather than savings.