Federal Regulations require that all depository institutions (including credit unions) limit how withdrawals may be made from a Regular Share Savings or Money Market Share Savings. Savings Accounts include the following: Regular Share Savings, Club Accounts, and Youth Share Accounts. Withdrawals in excess of these limits may result in a fee or account closure.  Share Draft Checking Accounts are excluded from this regulation.

How Does Regulation D Affect These Accounts?

During any month, you may not make more than six withdrawals or transfers from a Share Savings or Money Market Share Savings to another account of yours or to a third party. This includes withdrawals or transfers, online banking transfers, overdraft protection transfers, transfers done over the phone, and ACH withdrawals.

TIPS to Avoid Regulation D Limits on Savings & Money Market Accounts:

• Have your Direct Deposit sent to your Share Draft Checking Account first (is NOT subject to Regulation D) and then you or Best Reward Federal Credit Union can route it to other accounts as you wish.
• Arrange all ACH Withdrawals and Preauthorized Debits to come out of your Share Draft Checking Account.
• Make one large Transfer from your Savings or Money Market instead of several smaller Transfers.
• Conduct Withdrawals or Transfers in Person or by Mail at a Branch Office or through an ATM.

Best Reward Federal Credit Union is committed to helping you save money. Contact us if you have questions or need assistance with changing your Direct Deposit or Transfers.

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