125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Why can't I transfer from savings?

Regulation D or “Reg D” is one of those pesky bank regulations that seems to confuse. This government regulation limits the number of transfers out of your Savings Account to six per month. 

If you made a transfer from your savings account on Online Access, it tells you how many online transfers you’ve made. If you click on the “Explain” link, the Reg D Description pops up. Click on that for a full description and chart about what Reg D is and how it affects you.

Transactions that count towards the Reg D limits include: Transfers from savings using Online Access or Phone Access, transfers made by calling an Alternatives staff person and requesting a transfer, pre-authorized, automatic, scheduled, or recurring transfers, and overdraft protection transfers from savings to cover overdrafts. 


Why this limit? The federal government requires financial institutions to reserve a percentage of funds in transaction accounts, like checking accounts. Since the balances on these accounts can change rapidly with no notice, reserving funds acts as a stabilizing tool. Financial institutions are not required to reserve for funds held in non-transaction accounts, like savings accounts.


Exempted from Reg D limits are transactions by mail, Quick Drop or Night Drop with an original signature, transfers made to loans at Alternatives, ATM transactions, and transactions done in person at Alternatives. 


For more information, see the explanation on Online Access. If you have questions, please call a Member Service Specialist at (607) 273-4611.

Online Access

eStatements Prior to Dec. 2012 »

Loan Rates
Deposit Rates


Donate »

Your gift to Alternatives Impact helps our community!

Laurie and Zoe Hill

Our family's strongest connection to Alternatives started at the Student Credit Union branch at Fall Creek Elementary School. Zoe started as a Saver and I as a Teller five years ago. Zoe is a regular depositor. I started putting money into my savings account on a more regular basis when we realized that it would be a good place to have a vacation account - one we didn't have a debit card or checkbook for. We saved enough for a trip to Zurich to visit friends on sabbatical and then the fast train to Paris.

more»


Alternatives
Financial
Education »

Discover how you can gain control of your finances...



Alternatives Federal Credit Union ("Alternatives") provides a hyperlink to Google Translate� for convenience only and without any responsibility for the accuracy of translations. Alternatives has no control over this unrelated, free and entirely computerized translation program. Computerized translations are only an attempted approximation of the website�s original content and thus Alternatives makes no representations or warranties of any kind with respect to the accuracy, reliability or completeness of any translations. Persons using translated information do so at their own risk.