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What is regulation d?

A: We are required by the Federal Reserve Bank to follow REG D.

A: REG D is a regulation enforced by the Federal Reserve Bank to Prevent financial institutions from structuring funds to avoid reserve requirements on transitional accounts.

A: REG D allows you to only transact on your SAVINGS account (s) a total of 6 times per month. You can deposit as much as you want as often as you want into your SAVINGS accounts; however, you may only have 6 electronic or automatic withdrawals from your SAVINGS account (s) per month.

A: Automatic deductions (AAA Insurance, PayPal, etc.)
Online Virtual Branch transfers out of savings account to another share account or loan.

Telephone transfers out of savings account to another share account or loan
Automatic overdraft protection transfers from a savings account to a checking account

A: You can keep funds that you intend on spending for transactions in your checking account. Your checking account is NOT regulated by REG D, and therefore, transactions on checking accounts are unlimited. Only keep the funds in your savings account that you intend to save.

A: The item will be paid, and each transaction will incur a $25 REG D excess fee.   

**Effective January 1, 2013, any and each transaction that occurs over the 6-transaction limit will be returned UNPAID and charged a $25 REG D excess fee per item.**

A: The best solution is to have all your automatic withdrawals and transfers set up to come out of your checking account since there are NO LIMITS to the amount of transactions you can perform. We would also suggest having direct deposits go into your checking account.

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