What is Regulation D?

What is Regulation D?

The Regulation D instituted by the Federal Reserve requires Credit Unions, and banks, to limit the number of transactions you make from your Savings or Money Market Account per month without your physical presence being required. According to the Regulation, you may not make more than six (6) pre-authorized, automated or telephone transfers and/or withdrawals from these accounts each month. This limit is 6 per month per Savings or Money Market account and excludes checking accounts.

Which transactions are limited under Regulation D and which ones are unlimited?

What if my account reaches the Regulation D limit?

You may complete withdrawals and/or transfers in person, by mail or at an ATM.

When will this Regulation affect me?

Beginning May 1, the limit on withdrawals and/or transfers from a Savings or Money Market Account will be in effect. You will receive a notice on your first transaction over the limit via mail. Any subsequent withdrawals and/or transfers will be stopped and may result in an Insufficient Fund/Returned item fee even if the funds are available.

Tips to Avoid Regulation D limits on Savings or Money Market Accounts?

• Have your Direct Deposit sent to your checking account. You may make unlimited transactions from your checking accounts.
• Arrange all ACH withdrawals and preauthorized debits to come out of your checking account instead of your Savings or Money Market Account.
• Plan ahead and make one large transfer from your Savings or Money Market Account instead of several small transfers.
• Use ATMs or perform your transfers in person from your Savings or Money Market Account.

If you have any questions regarding Regulation D and how it may affect you, please contact Texas DPS Credit Union at 512-452-5211 option 5 or email txdpscu@txdpscu.org.