How Regulation D Affects Your Transactions

Federal Regulation D impacts the number of transactions TEFCU may allow on your deposit accounts. The Regulation was implemented by the Board of Governors of the Federal Reserve System, whose job is to ensure that financial institutions maintain adequate reserves for the funds they have on deposit.

Federal Regulation D affects you by limiting certain withdrawals and transfers that may be made from your savings and special savings accounts. The following transactions (or any combination thereof) are limited to six (6) per month:

  • Overdraft agreements where money is automatically withdrawn from a share account to cover overdrafts in any of your other accounts.
  • Tele-Connect transfers or other Call Center telephone transfers from a share account to other accounts or third parties.
  • Online Banking transfers from a share account to other accounts or third parties.
  • Pre-authorized, automatic transfers (ACH) made at a predetermined time to third parties or to your other accounts.

There is no limit on the frequency or dollar amount of transfers for the purpose of repaying loans and associated expenses where the loan has been made to you by the Credit Union or is serviced by the Credit Union. And, there are no limitations on the number of transactions that you handle on any account in person, by mail or through an ATM. You should know that TEFCU will refuse any transactions that are not in compliance with Regulation D (checks may be returned and fees applied).

Transactions made in person at the Credit Union, by mail or using an ATM card do not count towards the six-per-month limit and does not affect the account’s status.

Just a reminder, Federal Reserve Regulation D is a directive of the Government, not of TEFCU.

You are leaving Transit Employees Federal Credit Union's (TEFCU) website and entering a third-party website unaffiliated with TEFCU. TEFCU is not responsible and takes no responsibility for products, services, overall website content, security, or privacy policies on the external website you are entering or any external third-party website. The third party website is responsible for their content and offerings on their site, and their level of security may be different from ours. TEFCU's privacy policy and security policies do not apply to the external third-party website. Please refer to the website's policies and terms of use for details.