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The Federal Reserve Board’s Regulation D defines the types and number of transactions that can be performed on non-transaction accounts. This includes all Share and Money Market Accounts, which comprise of:
- Regular Savings Accounts
- Club Accounts
- Money Market Accounts
During any calendar month or statement cycle, you may not make more than six withdrawals or transfers from your Share, Club and Money Market Accounts to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction.
Up to six withdrawals and/or transfers per month from your Share, Club and Money Market Accounts may be made by:
- Overdraft transfers (to cover checks written)
- Phone or fax requests - (excluding checks mailed directly to member)
- BOB: Belvoir Online Banking (excluding checks mailed directly to member)
- ACH or EFT
- BelTel: Belvoir Telephone Teller (excluding checks mailed directly to member)
Up to three additional withdrawals and/or transfers per month from your Share, Club and Money Market Accounts, but not to exceed the Reg. D total six per month in combination with those above, may be made by:
- Writing checks to a third party from Share, Club and Money Market Accounts
- Performing a merchant transaction via your Belvoir Federal ATM card (if applicable)
- Performing a merchant Point of Sale (POS) via your Belvoir Federal ATM card (if applicable)
Not Reg. D - An unlimited number of withdrawals and transfers may be made by:
- An Automated Teller Machine (ATM)
- Any member performing the transaction In-person at the credit union or branch location
- A check being mailed to the member's primary mailing address (i.e. check payable to the member)
- Mail or messenger requests (not faxes)
- The purpose of making loan payments (Back office Share to Loan transfers)
- Transfer from a direct deposit received in one and then disbursements occurs to a family member’s account (must take place as an automatic transfer within the same day of deposit)
Click here for the complete Schedule of Charges.
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