What is Reg D?
Regulation D limits the number of certain types of transactions on all savings and money market accounts. In other words, all financial institutions are required by regulation to treat all types of transactions differently than a checking account. Savings accounts (non-transaction accounts) are intended to be established for long-term savings with few withdrawals while checking accounts (transaction accounts) are intended to be established for day-to-day use. Checking accounts do not fall under Reg D and there is no monthly limit to automated transfers or withdrawals on them, so this notice does not apply to checking accounts.Each Southeast Financial savings or money market account is allowed no more than six (6) “Reg D” withdrawals per calendar month from a savings/money market account.