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Regulation D

Regulation D is a Federal law (not an SFCU policy) which limits the number of unsigned/electronic transfers and withdrawals from your savings account to a maximum of six per month. Types of withdrawals/transactions include:

  • Automated (ACH) withdrawals from your savings account (example: your mortgage company deducts your monthly payment from your savings account). Of the six, you are allowed a total of three ACH deductions from your savings per month.
  • Withdrawals or transfers from your savings account to another account made via P.A.T. (Personalized Automatic Teller), online banking, or by calling and requesting a withdrawal or transfer by phone completed by a Member Service Representative (MSR).
  • Overdrafts from your savings to your checking account. If you do not have enough funds in your checking account to cover a check or withdrawal and there are enough funds in your savings account to cover the withdrawal (plus any overdraft fee), then the funds can be automatically transferred from your savings. This type of transfer counts as an unsigned/electronic transfer.

It is important to remember that you can have only six (6) unsigned/electronic withdrawals from your savings account each month, of which no more than three (3) can be ACH withdrawals.