Importance of Regulation D

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What’s Regulation D and why does it matter?

Regulation D (Reg D) is a Federal Regulation that limits the number of transactions you may do from your Savings and Money Market accounts to six (6) per month without being present at a branch. The purpose of this regulation is to ensure financial stability and predictability across the nation’s banking system and for members to use their savings accounts as it is intended to be used – to save.

Which transactions are affected by Reg D?

  • Transfers made using Online and Mobile Banking
  • Transfers made by a member service representative via phone on your behalf
  • Pre-authorized (which you may know as “ACH” or “EFT” transactions), automatic, scheduled, or recurring transfers.

Please note, you are allowed six such transfers per month, per account (checks count against the month in which they clear, not when they are written).

What transactions are not affected by Reg D?

  • ATM transactions
  • Transfers made to UKRFCU loans
  • Transactions done in person at a branch
  • Transactions sent in by mail
  • Transfers into your account

What happens if you exceed six (6) transactions in one month?

If you do happen to go over your transaction limit or reach more than six transactions, you may be charged a fee per transaction over the limit of six. If this becomes a monthly occurrence, we may contact you to suggest you switch from a Savings or Money Market account to a Checking account.

How to avoid Reg D fees?

  • Deposit your payroll check into your Checking account instead of your Savings or Money Market accounts.
  • Plan ahead and make one large transfer instead of small ones.
  • Balance your Checking accounts regularly.
  • If you need to make a transfer over the limit, visit us in-person, or you can use an ATM. There are no transfer restrictions with these methods.
  • Use your Checking account instead. Reg D doesn’t apply to Checking accounts, so you can make unlimited number of transactions and withdrawals from there.

When making transactions through your Savings or Money Market account, please remember that you are limited to six transactions per month. The regulation is intended to help members save money while ensuring we have access to sufficient funds in the credit union. Reg D is a directive of the Federal Government, not UKRFCU.

Learn more about Reg D by clicking here.