Federal Government Regulation D

Regulation D (Reg D), a regulation imposed by the Federal Reserve Board on all financial institutions, sets limits on the number of monthly transfers and withdrawals that can occur for a Savings or Money Market Savings account. Members with Savings or Money Market Savings are limited by this federal regulation to making six (6) automatic withdrawals or transfers per account, per calendar month from any of these accounts (not including loan payments to America First).

Once the limit has been reached, the system will no longer allow such a transaction and any automatic transfer may be returned as unpaid.

Accounts that are affected by Regulation D

• Savings Accounts
• Money Market Savings Accounts

Types of transactions subject to Regulation D

Transfers between your accounts (not including loan payments to America First) made through:

• Online Banking
• Speech Access and AccessLine
• Member Service Call Center
• Pre-authorized or automatic withdrawals (this includes such things as automatic utility payments, automatic mortgage payments, automatic transfers to other AFCU accounts, and other payments to third parties)

Tips to help you manage your savings accounts and avoid Regulation D limits:

• Plan ahead and make one large transfer instead of several small transfers. Each regulated transaction (made through the Call Center, Speech Access, AccessLine, or Online Banking) counts as one transaction, no matter what the amount.
• You may utilize an ATM to transfer funds between your accounts, consider visiting a Branch Location, or mailing your transfer request. These transfers are not subject to regulation.
• Set automatic ACH withdrawals from merchants to come out of your checking account instead of your savings account since checking transactions are not subject to the regulation. Or consider using Bill Pay through Online Banking.