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Regulation D

Regulation D

Regulation D states that Savings and Money Market accounts are non-transactional, and therefore limited to no more than 6 transactions in a calendar month. Continue on reading to learn more about Regulation D and how it affects your accounts. 

**Note: Effective April 24, 2020, the Regulation D limit of 6 transactions in a calendar month has been suspended in order to best serve our members during the pandemic. If a member needs to use their savings for more than 6 withdrawals they can do so with no penalty or fee.

Accounts that are affected by Regulation D

  • All accounts that are designated as Savings Accounts
  • Secondary Savings
  • Money Markets

Tips to help manage your savings accounts and avoid Regulation D limits

  • Use an ATM to transfer funds between your accounts—ATM transfers are considered “signature authorized” and do not count as Regulation D transactions.
  • Consider visiting a branch or mailing your transfer request.  These transfers are considered “signature authorized” and are not limited.
  • Balance your checking account on a regular basis. This will help limit the number of overdraft transfers from your savings account, which counts towards the number of transactions allowed.
  • We suggest you do not set up ACH automatic debits with merchants or service providers from savings.  Instead, set up ACH withdrawals to debit your checking account, which is not subject to this regulation.

Regulation D and How It Affects You

The number of withdrawals and transfers per month from your savings or money market account is limited due to federal regulations. We understand that it is tempting to keep a bulk of your funds in your RelyOn savings account and transfer funds only as you need them to other accounts, or to checking to clear checks and other items.

However, you are permitted up to six (6) per calendar month of any combination of the savings withdrawal transactions listed below:

  • Transfers from savings between your account
  • Transfers made on RelyOn Online Banking
  • Transfers from savings made by telephone request through the RelyOn Call Center
  • Pre-authorized or automatic withdrawals from savings, such as insurance premiums or other bills
  • Transfers from savings to another member’s account
  • Overdraft transfers from savings account to cover checks or other items
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