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Regulation D Transaction Limitations

Federal regulations require banks to limit the way withdrawals and transfers may be made from a savings or money-market account. You may not make more than six of the restricted transactions per calendar month for savings accounts or per statement cycle for money-market accounts.

Restricted Transactions Transfers and withdrawals made in any of the following ways:

  • Pre-authorized, automatic, scheduled or recurring debit
  • Telephone, fax or e-mail through a Bank representative
  • Telephone Banking, Online Banking or Online Bill Payment
  • Overdraft transfers (made automatically to cover insufficient funds in other accounts)
  • Check or debit card to a third party

Unrestricted Transactions Regulation D does not affect the following types of transactions:

  • ATM transactions
  • Transfers made to loans at the Bank
  • Transactions done in person at a banking center
  • Transactions sent by mail or night depository with an original signature

A fee of $10 for each restricted transaction in excess of six per statement cyle. For customers who continue to exceed those limits after being notified by the Bank, the Regulation requires that either the account be closed or the funds be transferred to a transaction account that the depositor is eligible to maintain.