Wednesday, February 22, 2012 - 8:48 AM

What Is Regulation D?

Before the popularity of online banks with their high yield savings accounts, you never transferred money directly out of a savings account. You usually transferred it to your checking account and then write checks, withdrew cash, or used a debit card. Regulation D didn’t matter to you and you were never penalized with a fee. So, what is Regulation D and why is there this limit of 6 transfers?

http://www.bargaineering.com/articles/regulation-d.html

Shorebreak1,313 posts since
Apr 6, 2010
Rep Points: 4,960

1. Wednesday, February 22, 2012 - 10:37 AM

Actually, the Regulation D limits apply to transfers from savings to checking accounts.

Unless you meant people would transfer a lump sum to their checking accounts as a single count against the savings account, then do multiple transactions from their checking.

me1004294 posts since
Jan 16, 2010
Rep Points: 1,870