What you need to know about Reg D

A federal rule called Regulation D (Reg D) puts a limit of six (6) transactions per calendar month on certain transfers and withdrawals from some savings or money market accounts. Reg D is the federal government’s effort to ensure that financial institutions have the proper amount of reserves on hand and to encourage people to use savings accounts as they are intended (to save money).


Tips to Avoid Reg D Limits and Fees

  • Open and use a Checking PLUS, Checking, or Daily Savings Account which are not subject to Reg D restrictions
  • Have preauthorized payments (such as phone and utility bills) automatically deducted from a Checking PLUS or Checking account
  • Make one large transfer to your Checking PLUS or Checking account to cover anticipated usage, instead of making many small transfers throughout the month.
  • Apply for a Line of Credit to use as overdraft protection
  • Visit a branch or ATM location to make withdrawals or transfers


Reg D Frequently Asked Questions

Non-Transactions accounts subject to Reg D limits are:

  • Main Share Savings
  • Money Market Savings
  • Holiday Club Savings
  • “You Name It” Savings
  • IRA Savings

The following type of transactions are subject to Reg D limits:

  • Online or mobile banking transfers
  • Phone transfers with our Contact Center
  • Preauthorized or automatic electronic payments or transfers
  • Automatic transfers to another Hughes account on non-payroll dates
  • Automatic transfers for Overdrawn Protection
  • Automated Voice Response transfers

The following withdrawals or transfers are NOT subject to Reg D limits:

  • Made in person at a Hughes branch or CO-OP Shared Branch
  • Made by written request (considered the functional equivalent of being physically present)
  • Made using an ATM
  • Made by member to pay a Hughes loan
  • Made by automatic transfer to another Hughes account on payroll dates

Once you have reached the six (6) allowable transactions in a calendar month, all other transaction attempts will be declined unless they are made in person at a Hughes branch location, a CO-OP shared branch, or at an ATM (surcharge may apply).