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Reg D

Frequently Asked Questions

What is Regulation D (Reg D)?

Reg D is a federal regulation that limits the number and type of withdrawals from Savings or Money Market Accounts to 6 (six) per month (per account).

Which accounts does Reg D affect?

East County Schools Regular Savings or Money Market Accounts are affected. Checking accounts do not have any transaction limits.

When does the Reg D counter reset?

The Reg D counter resets at the beginning of each calendar month.

What types of transactions are not counted toward the 6 (six) transfers permitted each month?

  • Withdrawal checks issued via Online Banking when made payable to the member and mailed to the member
  • Any transfer for the purpose of repaying an East County Schools loan
  • Transfers among accounts of the same person when made by mail, ATM or in person
  • Debit Card transactions that don’t trigger overdrafts from Savings or Money Market Accounts

What types of transactions are counted toward the 6 (six) transfers permitted each month?

  • ACH transfers from a Savings or Money Market Account to another financial institution or third party for payment by means of a preauthorized or automatic transfer, telephone agreement, or transfer via Online Banking, including services such as PayPal.
  • Online Banking transfers or recurring scheduled transfers from a Savings or Money Market Account to any other East County Schools account
  • Automatic transfers from a Savings Account to cover checks, ACH, or EFT (overdraft protection)
  • Checking Account Debit Card transactions which overdraft from a Savings or Money Market Account when funds in the Checking Account are insufficient.

How can I make a transfer if I have exceeded Reg D?

To make a transfer after Reg D has been exceeded, you can:

  • Transfer the money at an ATM
  • Complete the transaction in person at one of our branches or a shared branch
  • Fax a request to East County Schools at (619) 588-2197

If I have two Savings Accounts am I limited to 6 transactions for each account or 6 in total for both?

Each month you are permitted 6 transfers from each Savings Account.

Do ATM transfers from Savings and Money Market Accounts count toward Reg D?

No, ATM transfers will not count toward Reg D.

Please note that once you reach the maximum 6 (six) transfers in a month from the same account, future transfers from the account will not take place. This could result in insufficient funds or overdraft fees, depending on your account balance.

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