|
Regulation D Limits
Under the Federal Reserve Bank’s Regulation D, no more than
a total of six transfers
are allowed per calendar month from your Share Savings or Vacation
Accounts. Of the six,
only three may be preauthorized withdrawals or transfers to another account or
third party.
REG D LIMITS FROM SHARE SAVINGS/VACATION
|
LIMITED TO SIX PER MONTH |
NOT INCLUDED |
|
|
|
|
Telephone Transfers from Share
Savings/Vacation |
Share Savings to Loan Transfer |
|
|
|
|
AUDIO RESPONSE
Transfers from Share Savings/ Vacation |
Share Savings Transfers to Loans |
|
|
|
|
HOME BANKING
Transfers from Share Savings/Vacation |
Share Savings Transfers to Loans |
|
|
|
|
Overdrafts from Share Savings Account to cover Share Drafts |
|
| |
|
|
LIMITED TO THREE PER MONTH (included in six per
month)
Checks payable to Third Party from Share Savings.
Preauthorized Withdrawals from Share Savings
(either electronically or by written permission) |
|
|
|
|
|
|
|
|
|
|
|
|
Written transfer note in Night Deposit |
|
|
Written transfer note by Messenger |
|
|
Written transfer note by Mail |
|
|
In Person at NET |
REG D LIMITS DO NOT APPLY
TO SHARE DRAFT CHECKING ACCOUNTS .
There is no limit as to how many checks you may write.
At NET this compliance will
become effective November 1, 2006.
WHAT YOU CAN DO TO PREVENT EXCEEDING LIMIT FOR SHARE
SAVINGS/VACATION:
Have all pre-authorized withdrawals (insurance, utilities,
etc.) withdrawn from Share Draft Checking.
Reduce the number of transfers: Keep sufficient funds in
your Share Draft Checking account to cover your checks
and withdrawals .Do not write a check until you deposit to your Share Draft
Checking to cover the check.
An ATM machine transfer does not count against Reg D but
please remember that the transfers are not done in real time and may take two days or longer to post at the credit union.
Have your payroll or direct deposit target your Share Draft
Checking rather than your Share Savings account.
Transfers made from Share Draft Checking to Share Savings do not
have a limit.
SHARE SWEEP ACCOUNTS
Must maintain Minimum Balance of $8000
Must have a Share Draft Checking Account
Must have ATM/Debit Card
Two tiered rate of return
Unlimited transfers for Overdraft Protection
| 
