Funds Availability | Deposit Insurance | Account Terms | Electronic Funds Transfer | Schedule of Fees and Charges | Regulation D
Sun East Federal Credit Union complies with the Federal Reserve Bank's Regulation D. This Regulation limits the number of transactions you can make from your Share accounts, Club accounts, or Premier Money Market account each month.
Each of these accounts is allowed a total of six (6) Reg D transactions per month, with no more than three (3) of these transactions by check or similar type to a third party.
Checking and Classic Money Market accounts are not affected by this Regulation.
- Transfers or withdrawals made in person at any of our office locations.
- Transfers to make loan payments.
- Transfers for the purpose of repaying loan expenses.
- Transfer or withdrawal requests made in writing and delivered in the mail or by a messenger.
- Transfers or withdrawals made at an ATM or QCD.
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ACH Debits
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Preauthorized payments from a share account to pay a third party item (i.e. mortgage, insurance payments) |
When 6 Reg D transactions have been reached in a given month, your next ACH Debit will be returned unpaid and charged a Reg D Return Fee.* |
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Sunny, Telephone, E-mail, Internet Banking, Fax
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Transfers or withdrawals made to another account through any of these services |
After you have reached a total of 6 Reg D transactions for the month, any additional Reg D requests will be rejected |
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Telephone, E-mail, Fax
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Transfers or withdrawals to a third party made through any of these services |
After you have reached a total of 6 Reg D transactions for the month, any additional Reg D requests will be rejected |
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Overdraft Protection**
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Overdraft transfers made from a share account to a share draft |
When 6 Reg D transactions have been reached in a given month, your overdraft protection will not cover any further transactions. Excess items may be returned unpaid and charged a Reg D Return Fee*** |
*Reg D Return Fee-$10 per item (Effective January 1, 2007)
**Overdraft Protection not available with Premier Money Market
***Item may be covered by Courtesy Pay or Personal Line of Credit
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Ex: You have multiple automatic transfers setup within Internet Banking from your Share 1 or Savings account to other multiple accounts for your children.
Alt: Schedule one large transfer from your Savings to your Checking (S4), and reschedule the multiple transfers to come from your Checking account.
Ex: Your Direct Deposit goes in to your Savings (S1) and you frequently transfer money from that account as needed via phone or Internet Banking.
Alt: Set up your Direct Deposit so that the majority of it goes in to your Checking and a smaller portion goes in to your Savings.
Ex: You pay bills through a third party from your Premier Money Market Account.
Alt: Reschedule those bills to pay from your Checking Account and make one large transfer a month from your Premier Money Market Account to your Checking to cover those bills.
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