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Savings Account Transfer Limitations - FAQ's

What is Regulation D?
Federal Regulation D places a monthly limit on the number of transfers you may make from your Savings Accounts*, including Money Market and Super Saver Accounts without your physical presence being required.

What Transfers subject to Regulation D restrictions?

  • Automatic bill paying (Preauthorized withdrawals “ACH” or “EFT”)
  • Telephone Transfers  (Savings to another share)
  • Express Telephone transfers   (Savings to another share)
  • Homebanking transfers  (Savings to another share)
  • Mobile Banking transfers  (Savings to another share)
  • Money Market sharedrafts
  • Transfers from your Savings Accounts to another CFCU member via telephone transfer, Homebanking, or Express Telephone
  • Overdraft share transfers  (If your checking account does not have sufficient funds to clear a check or debit card purchase and you do not have available funds on your overdraft line of credit, funds will be transferred from your savings account)

You are permitted a total of six transfers per month combined using any of the above methods. Once you have reached that limit you may lose the ability to transfer funds electronically. If the limit is exceeded, a $15 fee may be imposed for each transfer in excess of the permitted six transfers.

* Other sub accounts may be subject to Federal Regulation D restrictions.

What Transfers are not subject to Regulation D?

  • Withdrawals or transfers performed at an ATM
  • Any transaction completed in person at CFCU
  • CFCU Loan Payments via transfer from savings account
  • Transfers, automatic bill pay or preauthorized withdrawals from your Checking account

What should I do if I’ve reached the Regulation D limit of six transactions in one month?

  • You may complete your transaction by visiting any of our office locations, by ATM or by mail.

What should I do to prevent exceeding the Regulation D limit?

  • Contact any merchants you have set up to withdraw funds from your savings account and change the withdrawal from your checking account.
  • Utilize CFCU Online Bill Payer to pay merchants
  • Make sure that you have available funds in your Checking Account when you use your Debit Card to process a transaction
  • If you don’t have a Checking Account, open one today!
     

If you exceed the six permitted transfers three times in a 12-month cycle your account will be reclassified as a Transaction Account and assessed a monthly fee of $15.

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