What transactions are not affected by Reg D?

  • Deposits
  • ATM cash withdrawals & transfers
  • In-person withdrawals & transfers
  • Any transaction from a checking account which does not necessitate an overdraft transfer from a savings account
  • Transfers to make Southeast Financial loan payments
  • Overdraft protection for a checking account made from a line of credit
  • Withdrawal or transfer requests made by mail if made payable to and mailed to the member

Important Notice: On April 24, 2020, the Federal Reserve Board announced an interim final rule to amend Regulation D (Reserve Requirements of Depository Institutions) to delete the six-per-month limit on convenient transfers from savings accounts. The interim final rule allows financial institutions to immediately suspend enforcement of the six transfer limit and to allow their members/customers to make an unlimited number of convenient transfers and withdrawals from their savings accounts at a time when financial events associated with the coronavirus pandemic have made such access more urgent. We have removed the limit and will update you with any changes.


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