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Regulation D FAQs
- What is
Reserve Regulation D places a monthly limit of six (6) electronic
transfers and withdrawals that you may make from your Savings Accounts
without your physical presence being required.
Transactions affected by this regulation include:
Transfers made using SAFE@home
Transfers made using Telephone Banking
Overdraft transfers (made automatically to cover insufficient funds in other accounts; see below)
Transfers by phone made by a Member Service Representative on your behalf
Pre-authorized, automatic, scheduled or recurring transfers
Please note Stark FCU will allow only three (3) withdrawals per
calendar month on
Money Market Accounts
transactions are not affected by Regulation D?
Transfers made to Stark FCU loans.
Transactions done in person at a branch
Transactions sent in by mail or night drop
- What are my options once
my saving account has reached its Regulation D limit in a calendar
You may complete withdrawals and transfers in person, by mail, or at an ATM.
- If a
savings account has reached its Regulation D limit, will Stark FCU
continue to automatically transfer money to cover an overdraft?
No. In that case, you will receive a notice by mail and you
may incur an overdraft charge for each item presented for payment
against your account.
Ask for details about our Overdraft Privilege Program.
- I have authorized a merchant to automatically withdraw payments from my Savings Account; do these count against my monthly limit?
Yes. These payments (which you might know as "ACH" or "EFT" transactions) follow Regulation D limitations. Any withdrawals attempted beyond your monthly limit will not be honored, and you will receive a notice by mail and incur an Insufficient Funds
charge. To avoid this situation, make automatic payments using something other than a Savings Account or MMA, such as a checking account. Contact the merchant to arrange this change, and be aware that your request could take more than a month to go into effect.
Note: There are no limitations on checking accounts, only