Regulation D

What is Regulation D?

Regulation D is a Federal regulation that limits the number of covered transactions members can make from their Share Savings or Money Market accounts to six (6) per month. Withdrawal or transfer transactions included in this limit are:

  • Overdraft Protection Transfers
  • Electronic Funds Transfers/Automatic Withdrawals (EFT or ACH)
  • Debit Card Transactions
  • Home Banking Transactions
  • Phone Banking Transactions
  • Telephone Transactions
  • Facsimile Transactions

What transactions are not covered by Regulation D?

The following are not subject to the limitations of Regulation D:

  • Transactions made in person at any Fulda Area Credit Union branch
  • Transactions made at an ATM
  • Transactions made to pay a loan you have with Fulda Area Credit Union
  • Transactions made by mail or night drop
  • Transactions made from a Fulda Area Credit Union Share Draft (checking) account
  • Withdrawals made by telephone via check that is mailed to the depositor
  • Transfers made into the account

What can I do if I've reached the limt of 6 transactions for the month?

You can complete the transaction in person, by mail, by night drop, or at an ATM.

What can I do if I have a merchant that automatically withdraws from my Share Savings or Money Market?

If you have a checking account, you can contact the merchant to have the payment automatically withdrawn from your checking account or you can use FACUpay to pay the merchant automatically. To learn more about FACUpay, click here .

If you don't have a checking account, you can allow a merchant to automatically withdraw from your Share Savings and/or Money Market account. However, if you have reached the limit of 6 transactions for the month and an automatic withdrawal is submitted for payment, it will not be honored and you will be subject to a non-sufficient funds fee.

What happens if I have reached the limit of 6 transactions and I need my overdraft protection from my Share Savings and/or Money Market account to cover a payment submitted to my Share Draft (checking) account?

Since overdraft protection transfers from your Share Savings and/or Money Market are included in the Regulation D limit of 6 per month, the transfer will not occur if you have reached your limit and you will be subject to a non-sufficient funds fee.

If you have overdraft protection from a line of credit and funds are available, the transfer will occur as transfers from a line of credit are not subject to the limitation.

last edited on 09/29/10