Regulation D

Certain accounts come with specific restrictions

Regulation D is a directive of the Federal government that is imposed on all financial institutions (banks and credit unions).

Understand your limits.

To maintain compliance with Regulation D, Education First Federal Credit Union places a monthly limit on certain types and the number of withdrawals or transfers from transactional accounts, such as share savings or money market accounts. Share accounts include all Standard Savings, Special Savings, Money Market Accounts, and Prime Rewards accounts. Each member account is allowed a total of six (6) Reg D transactions per month.

Transactions Not Affected By Regulation D

  • Transfer requests made in writing and delivered through the mail or a messenger
  • An advance made from an overdraft line of credit (provided funds are available) to pay a share draft account
  • Any transaction from a share draft account which does not necessitate an overdraft transfer from a share account
  • Withdrawals made by telephone (via check mailed to depositor)
  • Point of Sale transactions (POS) and deposit and withdrawal transactions made at an Automated Teller Machine (ATM)
  • Transfers done in person at any of our office locations
  • Transfers to make loan payments
  • Transfers made between the accounts of the same member AND made in person, by messenger, by mail or at an ATM

Transactions Affected By Regulation D

Overdraft Protection Transfers made from a share account to a share draft account, to cover a check, pre-authorized debit, a payment initiated by bill payer
Audio Response Transfers, Mobile or Internet Banking Transfers Transfers from a share account to another share or share draft account through our Touch Tone Teller, Mobile Banking or Internet Banking system.
ACH Debits Pre-authorized payments from a share account to pay a third-party item (may include, but not limited to: bills, mortgage payments, or insurance payments).
Employee Assisted Transfers A request to any of our employees over the telephone to perform a transfer transaction from a share account.