How Federal Regulation D Effects Your Deposit Accounts

The Federal Reserve Board’s Regulation D impacts the number of transactions you are allowed to perform on your deposit (non-transaction) accounts. Regulation D affects you by limiting the number of certain withdrawals and transfers that may be made from your savings or money market accounts within a calendar month or four week statement cycle.

No more than 6 transfers and withdrawals per month, by telephone or Online Banking, pre-authorized, automatic, point-of-sale or check, draft or negotiable order to third parties. An excess transaction fee will be charged for each item exceeding the 6 allowed transactions.

The following types are transactions that are not limited:

• Transfers that you perform in person, by mail or through an ATM.
• Transfers used to repay your Citizens Financial Bank loans and related expenses.
• Withdrawals made in person, by mail, messenger or ATM.

The following transactions are limited to a total of six per monthly statement cycle:

• Online Banking transfers from your deposit account to another account or a third party.
• Telephone Banking transfers to another account or a third party.
• Overdraft Protection transfers used to cover overdrafts in any other Citizens account.
• Check, draft, point-of-sale debit, or similar order.

Steps you can take to avoid exceeding Regulation D limits:

• Setup your recurring payments using your checking account instead of your savings or money market account.
• Perform transfers in person, by mail, messenger or ATM.

If you exceed the transaction limitation, you will be informed by mail and an excess transaction fee will be assessed for each item that exceeds the transaction limitation.