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April 4th, 2020

Regulation D and its Limits

What is Regulation D?

Due to Federal Banking Regulation D, there are limitations on the number of certain types of withdrawals and transfers which may be made per month from a savings account.  Account owners are permitted up to SIX TOTAL of any combination of savings withdrawal and transfer transactions within a calendar month. Any transaction thereafter will be restricted until the following month.

What transactions subject to “Reg D” limitations?

  • Transactions through PC Banking and Mobile Banking
  • Transactions made by telephone, fax, or email
  • Pre-authorized or automatic withdrawals and transfers
  • Overdraft transfers from a savings account

What transactions ARE NOT subject to “Reg D” limitations?

  • Transactions made in person at a Cornerstone branch
  • Transactions made through an ATM
  • Transactions made through the mail

If you typically make several small transfers from your savings account to your checking account, you may want to consider making one large transfer to cover your need for the month.

How can I avoid the Reg D limit?

  • Open a checking account if you do not have one with Cornerstone Financial Credit Union. Cornerstone Financial Credit Union provides various checking accounts tailored to your needs.
  • Use your checking account for the majority of your withdrawals and debits.
  • Keep more funds in your checking account.
  • Transfer excess funds from your checking account to your savings account after you verify it is not needed.

If you have any additional questions, feel free to contact us at 615-385-6866.