Home | Locations | Contact Us | SCU Online for Mobile Devices | Register for SCU Online | Forgot Username/Password

Search





Transfer LimitationsImportant transfer limitations you should know

Learning about Reg D can help you avoid fees

Federal regulations (often referred to as Reg D) require us to limit certain transactions each month on Savings and Money Management Accounts. You can have no more than six pre-authorized, automatic or third party withdrawals or transfers.

These include transactions like automatic mortgage payments, insurance drafts or other bills as well as transfers through SCU Online and Telephone Teller. On a Money Management Account, youíll incur a fee on the seventh and subsequent transactions.

On a Savings account, the seventh and subsequent transfers will not be allowed. If you use savings transfers for overdraft coverage, you will no longer be protected unless you also have an overdraft line of credit. If you donít, when another item is presented for payment against an insufficient checking account balance, it will either be returned for insufficient funds or covered by Courtesy Pay. Those fees are much larger. And if the item is returned, you may owe additional charges to the merchant, too.



You can see the number of Reg D transfers you have made each month from within SCU Online.  From the main balances screen, click on the + sign to the right of your account number. Then, click Get Account Details. At the bottom of the list you will see the number of electronic transfers (Reg D) used and remaining.

You can also set up free e-mail or text alerts on your Savings account to notify you each time a withdrawal is made. It may help you avoid an unpleasant surprise. 

    Transactions on Savings and Money Management Accounts allowed by Regulation D
DepositsNumber of Transactions Allowed
Delivered in person at branch
Unlimited
Delivered by messenger to branch
Unlimited
Delivered by mail
Unlimited
Transferred from another account
Unlimited
Deposited by direct deposit
Unlimited
Transferred / wired from another bank
Unlimited
Cash WithdrawalsNumber of Transactions Allowed
At teller window
Unlimited
By mail or messenger
Unlimited
At SCU ATM
Unlimited
At a non-SCU ATM
Unlimited
By telephone (check mailed to account owner)
Unlimited
Withdrawal at a shared branch
Unlimited
Transfers to Another Account owned by YouNumber of Transactions Allowed
At teller window
Unlimited
By mail or messenger
Unlimited
At SCU ATM
Unlimited
At non-SCU ATM
Unlimited
By telephone (including Telephone Teller, faxes and Member Relations Department)
Counts against 6
Through SCU Online banking
Counts against 6
By wire
Counts against 6
Pre-authorized or automatic transfers (Overdraft protection, for example)
Counts against 6
Transfer to make an SCU loan payment
Unlimited
Transfers to Third Parties or to your Account at another institution)Number of Transactions Allowed
At teller window
Unlimited
By mail or messenger
Counts against 6
Pre-authorized drafts or automatic transfers (Insurance drafts or automatic bill payments)
Counts against 6
Checks (for Money Management Accounts)
Counts against 6
By telephone (including faxes and Member Relations Department)
Counts against 6
By wire or ACH
Counts against 6
Purchases made at a merchant with an ATM cardCounts against 6
Bill payments made online directly at the biller's siteCounts against 6

  |     |  

SC State Credit Union 800-868-8740 | 803-343-0300