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All financial institutions are governed by Federal Regulation D, which sets limitations on the number of electronic transfers individuals may make each month from their savings accounts to other accounts. The regulation allows no more than six pre-authorized withdrawals from your Main Share account or from Christmas Club and other auxiliary share accounts. These withdrawals include Automated Clearing House (ACH) transactions, Visa Debit Card purchases, telephone transfers, online banking transactions, and overdraft transfers to your checking account. A payment transferred to your JACFCU loan does not count.

 Anyone who exceeds this limit at JACFCU may be assessed a fee of $30 per transaction to cover the additional administration required to comply with Regulation D.

 Consider these ways to reduce the number of transfers you make:

  • Transfer more money at one time to your checking account, rather than allowing the system to pull funds over to your checking.
  • Change your direct deposit to go into your checking account rather than your savings account. Then, set up an automatic transfer from your checking to your savings as often as you like.
  • Consider an Overdraft Protection line of credit. You can transfer from your savings at any time to pay a loan without counting against your limit.
  • You may make unlimited transfers or withdrawals in person or through an ATM at any time.


Main office: 915 E. Second Street
Jamestown, NY 14701
(716) 483-1650

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