What transactions are subject to Reg D?

  • Point of Sale (POS) debit card transactions: Transactions made from a savings account using a debit card at a retail merchant.
  • Audio Response (PAL) Transfers or Online Banking Transfers: Transfers from a savings account to another savings or checking account using PAL or Online Banking.
  • Overdraft Protection: Transfers made from a savings account to a checking account to cover an item, such as a check, pre-authorized debit, or a transaction initiated at an ATM or POS.
  • ACH Debits: A pre-authorized payment from a savings account to pay a third-party item (i.e. auto insurance, electric bill).
  • Employee Assisted Transfers: A phone request by a member to any of our employees to perform a transfer transaction from a savings account.

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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