Regulation D (Reg D), is a regulation imposed by the Federal Reserve Board on all financial institutions, which sets limits on the number of electronic, automatic, preauthorized and/or telephone transfers and withdrawals that can occur from a Savings or Money Market Savings account monthly. Members with Savings or Money Market Savings are limited by this federal regulation to making six (6) such withdrawals or transfers per account, per calendar month from any of these accounts (not including loan payments to Granite Credit Union).

Once the limit has been reached, the above mentioned transactions will not be processed and any automatic transfer may be returned as unpaid.

Accounts affected by Regulation D
• All Savings (Share) Accounts
• Money Market Savings Accounts

Types of transactions subject to Regulation D
Transfers between your accounts (not including loan payments to Granite Credit Union) made through:
• Flex Teller (Online Banking)
• Telephone Teller
• Call Center
• Pre-authorized or automatic withdrawals (this includes such things as automatic utility payments, automatic mortgage payments, automatic transfers to other GCU accounts, and other payments to third parties)
• Automatic transfers from a savings (share) account to a checking account to clear items due to insufficient funds.

Tips to help you manage your savings accounts and avoid Regulation D limits:
• Plan ahead and make one larger transfer instead of several smaller transfers. Each regulated transaction (made through the Call Center, TelephoneTeller, FlexTeller, or Online Banking) counts as one transaction, no matter what the amount.
• You may utilize an ATM to transfer funds between your accounts, consider visiting a Branch Location, or mailing your transfer request. These transfers are not subject to regulation.
• Set automatic ACH withdrawals from merchants to come out of your checking account instead of your savings account since checking transactions are not subject to the regulation, or consider using Bill Pay through FlexTeller (Online Banking).