Regulation D Limits Electronic Transactions
Have you ever tried to make an electronic withdrawal or transfer* from your savings account and been denied?
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 restrictions do not apply to checking accounts.)
*Defined as a telephone, Automated Clearing House, 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.