Share Savings Transfer Limits - Federal Regulation D

Effective October 1, 2009

Regulation D is a federal regulation that places certain limits on the number of transfers or withdrawals members can make from their savings accounts. It affects all Savings and More Money accounts. Regulation D allows for up to six (6) withdrawals, overdraft protection transfers, electronic funds transfers/automatic withdrawals (EFT/ACH), debit card transactions, home banking, telephone or facsimile transfers per month.

An unlimited number of withdrawals or transfers are permitted when:

Made in person at the credit union
Made by a mailed letter request
Made using an ATM
Made by the member to pay a loan the member has with the credit union
Made from a CCCU checking account

Please note: Federal Reserve Regulation D is a directive of the government, not of Clark County Credit Union.

Which transactions count towards the limit?

Type of Transaction:	Does it count towards limit of 6?
Overdraft transfer from Savings to cover Checking transaction (i.e. checks or debit card transactions)	Yes - Limit 6
Outgoing wire transfer requests not made in person	Yes - Limit 6
Electronic or paperless debits/withdrawals from savings from a third party (i.e. credit card, utilities, gym membership, etc.)	Yes - Limit 6
Transfer from Savings to Checking via Online Banking or CUE Phone	Yes - Limit 6
Transfers from Savings to Checking with Phone Representative	Yes - Limit 6
Transfer of funds with a teller at a branch	No
Transfer of funds from Savings to make a loan payment	No
ATM withdrawal or transfer	No
Direct deposits into Savings Accounts	No - Deposits or transfers to your savings account are unlimited.

Frequently Asked Questions

What if my account has reached its Regulation D limit?
Additional withdrawals or transfers can be made in person, by mail, or at an ATM and not impact your Regulation D limit. However, transaction requests that count towards the Regulation D limit that occur after the limit is reached, will not be allowed, may be returned as unpaid, and will incur an Excessive Transaction Fee.

If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?
If the account used for overdrafts is a Savings or More Money account, the request will not be honored. In that case, the item will be returned as non-paid and an Excessive Transaction Fee will be incurred for each overdraft request.

If the account used for overdrafts is an Overdraft Line of Credit or Visa card, Regulation D does not apply and your overdraft requests will be honored. If you do not have an Overdraft Line of Credit or CCCU Visa card, contact us at (702) 228-2228, Option 3 to apply.

Why did I receive an Excessive Transaction Fee? I wrote the check last month.
Regulation D limitations do not refer to the date a check was written; limits are based on the date the check clears your account. If you wrote a check on April 30 but it clears May 3, it counts as a May transaction - not April.

If I have authorized a merchant to automatically withdraw payments from my Savings Account, do these count against my monthly limit?
Yes. These payments (also known as ACH or EFT transactions) are subject to Regulation D limitations. Any withdrawals attempted beyond your monthly limit will not be honored and you will incur an Excessive Transaction Fee for each attempt. To avoid this situation, consider contacting the merchant to have the automatic payment made from your checking account.

Tips to avoid Regulation D Limits:

Set up your pre-authorized payments or automatic withdrawals to be taken out of your checking account, which is not subject to Regulation D.
Set up your overdraft protection to access an Overdraft Line of Credit or CCCU Visa card instead of your Savings account.
Limit transfers from your savings by making planned transfers in larger amounts instead of several small transfers.
Use an ATM to transfer funds within your account.
Use CU@Home or CUE Phone to monitor your accounts frequently to plan your transfers and control the movement of your money.

Regulation D, also known as the Reserve Requirements of Depository Institutions, is a federal regulation that limits automated withdrawals from non-transactional accounts. It ensures that financial institutions maintain adequate reserves for the funds on deposit. For more information about this and other regulations, please visit the Federal Reserve web site. (http://www.federalreserve.gov/bankinforeg/reglisting.htm)

For questions not addressed here regarding how your CCCU account is impacted by Regulation D, please contact us at (702) 228-2228, option 6.