1. What is Reg D?

Regulation D is a Federal Regulation which limits the number of transfers, withdrawals and third party payments that can be made on or from a regular share savings or money market accounts. Transactions performed electronically or with the use or aid of an electronic device are subject to limitation. (Transactions made in person at the credit union office and ATMs are not subject to the limitations.) Electronic transactions are limited to 6 per month from a regular share savings or money market accounts. These include telephone, automated clearinghouse (ACH), fax, data transmission, home banking, bill paying, automatic transfers, or any other arrangement by the credit union to pay a third party from the member's account.

2. How does it affect me?

During any calendar month or statement cycle, you may not make more than six withdrawals or transfers from your share savings or money market accounts to another account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction.

3. What if I reach the maximum number of transfers allowed? What happens then?

When the maximum number of transfers has been reached for the month, you will no longer be able to make electronic transfers from that specific savings or money market account.