Regulation D FAQs

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1. What is Regulation D? Federal Regulation D places a monthly limit on the number of transfers you may make from your Share Savings or Passbook Savings without your physical presence being required. You are allowed six (6) such transfers per month, per account. Transfers affected by this regulation include:
   • Transfers made using Online Banking
   • Transfers requested by telephone completed by Member Services on your behalf
   • Overdraft transfers (made automatically to cover insufficient funds in other accounts)
   • Pre-authorized, automatic, scheduled or recurring transfers
2. What transactions are not affected by Regulation D?
   • ATM transactions
   • Transfers made to DCCU loans
   • Transactions done in person at a branch
   • Transactions sent in by mail or Night Drop with an original signature
   • DCCU Electronic Bill Pay (uses funds from your checking account)
3. What are my options once an account has reached its Regulation D limit?
   • You may complete withdrawals and transfers in person, by mail, or at an ATM
4. If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?
   • No, if the Overdraft Protection account is a Share Savings or Passbook Savings. However, if the Overdraft Protection account is a Line of Credit loan (which is not affected by Regulation D) the overdraft will be honored. Contact a loan officer for details
5. I have authorized a merchant to automatically withdraw payments from my Share Savings or Passbook Savings; do these count against my monthly limit?
   • Yes. These payments (also referred to as "ACH" or "EFT " transactions) follow Regulation D limitations. Any withdrawals attempted beyond your monthly limit will not be honored, and you will receive by mail and incur an Insufficient Funds charge. To avoid this situation, make automatic payments using an account such as a Share Draft or Checking account. Contact the merchant to arrange this change, and be aware that your request could take more than a month to go into effect. Consider using Electronic Bill Pay offered through our Online Banking to automatically send payments to the merchant, rather than authorizing the merchant to automatically withdraw payments.