Understanding Regulation D
A Federal law, known as Regulation D, requires that all financial institutions limit certain withdrawals from share/savings and money market accounts. This law allows you to conduct up to six withdrawals from a share/savings as well as six withdrawals from a money market account per month.
Tips to avoid exceeding the six withdrawal limitation:
- Plan your budget and transactions in order to make one or two large withdrawals or transfer to cover your bills per month
- Consider using your checking account to pay regular bills
- Choose transactions that are not limited by the law (for example, ATM or in-person withdrawals)
- Use Online Banking to keep track of your balances and monthly withdrawals