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Personal and Business Banking

Federal Transfer Limits (Regulation D)

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Federal Transfer Limits (Regulation D)

If you've ever gone to make a transfer from your DCU Money Market Account on Online Banking and gotten an error message, you've probably run afoul of the Federal Transfer Limit. This limit is set by Federal Reserve Regulation D. The purpose of the regulation is prevent people from using savings accounts like checking accounts. The Federal Reserve, the independent U.S. government agency responsible for steering the U.S. economy and preventing inflation, monitors the amount of money in circulation – the money supply. Money in checking accounts is a key component of the money supply.

Reg. D, under which DCU accounts fall, states no more than six (6) pre-authorized, telephone, automatic, or check withdrawals or transfers in any combination are permitted in any calendar month from your savings-type account.

What accounts and transfers fall under Reg. D?

The limit applies to transfers out of savings-type accounts such as Savings Account, Money Market, Holiday Club, and Member Described shares.

Transfers out of savings accounts to loans at DCU, transfers into savings accounts, and transfers into or out of checking accounts are unlimited.

What to do if you've reached the monthly limit

If you've reached the limit, you'll be locked from further phone (electronic) transfers. If you need to make one or more before the end of the month, you can visit a branch location, a DCU ATM, or mail a written request with your account number, instructions, and signature to DCU, 220 Donald Lynch Boulevard, PO Box 9130, Marlborough, MA 01752-9130.

*Transfers made in person at a branch, by mail or at an ATM are unlimited.