Regulation D is a federal regulation that only allows 6 electronic transfers from your savings accounts per month. This federal regulation affects your accounts at Merrimack Valley Credit Union (MVCU) and Bridgewater Credit Union, a division of Merrimack Valley Credit Union, (BCU).
Which transactions are limited?
- 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 your MVCU or BCU account
- Check, draft, point-of-sale debit, or similar orders
Which transactions aren’t limited under Regulation D?
- Transfers that you perform in person, by mail or through an ATM
- Transfers used to repay your MVCU or BCU loans and related expenses
- Withdrawals made in person, by mail, messenger (Example Rep Payee, Attorney-In-Fact, or Custodian etc.) or ATM
How can you avoid exceeding Regulation D limits:
- Set up recurring payments using your checking account instead of your savings or money market accounts
- Perform transfers in person, by mail, messenger or ATM
- Contact Merrimack Valley Credit Union at 800-356-0067
- Contact Bridgewater Credit Union at 800-897-0343