Have you ever tried to make an electronic withdrawal or transfer* from your savings account and been denied?

You may not be aware, but by federal regulation (Regulation D), you are limited to a maximum of six electronic withdrawals and transfers* from a savings account during any calendar month. These transactions are further restricted to no more than three by check or draft and no more than three by debit card at POS (Point of Sale) terminals per month. (These restrictions do not apply to checking accounts.)

*Defined as a telephone, ACH, bill payment, or home banking-initiated transaction. ATM, direct teller transactions, and account transfers to pay your SEFCU loans are not limited under Regulation D.