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What is Regulation D?


The Federal Reserve requires all financial institutions to comply with the Regulation D for their Savings and Money Market products. Regulation D limits the number of transfers from a Savings or Money Market account to another account or to third parties to six (6) transactions per calendar month.


For Savings or Money Market account that continues to exceed the limitations, the Regulation D requires the financial institution to remove or restrict these types of transactions or to close the account.

 

Transactions affected by Regulation D

  • Overdraft protection (transfers to checking).
  • Telephone transfers to checking (made directly or by telebanking).
  • Online Banking (transfers to checking).
  • Electronic Fund Transfer (preauthorized withdrawals).


Transactions not affected by Regulation D

  • ATM transfers or withdrawals.
  • Automatic payments made to CFBank loans.
  • Transfers made in person.
  • Deposits or transfers of any type into a Savings or Money Market account.

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