Regulation D Information
What is Reg D?
Reg D is a federal regulation that limits the number and type of withdrawals from your Savings or Money Market Accounts to six per month, per account.
How does the temporary suspension impact me?
WESTconsin Credit Union cares about our members ability to easily access their funds to help pay for necessities, such as bills and daily living expenses, during this COVID-19 crisis. This change will allow you to temporarily conduct more than six phone or electronic withdrawals out of your Savings or Money Market Account, so there is no need to worry about exceeding your withdrawal limits.
What type of transactions are limited by Reg D?
- Online transfers from your Savings or Money Market Accounts to another account (e.g. your checking account)
- Debit card transaction from Savings accounts
- Transfers or withdrawals requested by phone
- Preauthorized, automatic bill payments (e.g. cell phone bill or PayPal) or automatic transfers from savings, including overdraft protection for your checking account