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Regulation D Savings Accouunt / Regulation D Fees

1 MN, United States Review updated:

I was charged a regulation D fee for going over my limit of transfers from savings to checking. I called US Bank's customer service and they told me they could not waive the fee. I have never went over the transfer limit in the past and was unaware of the regulation. US Bank does not tell you about the regulation thy said it was my responsibility to read about this regulation. I am very disapointed in US Banks customer service and their response to my request I am a very good customer.

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  • Wh
      28th of Dec, 2010
    0 Votes

    It is a federal regulation. It was given to you at account opening. Savings accounts are not meant to be transacted on like a checking account. So at least now you know!

  • Jb
      29th of Jan, 2011
    0 Votes

    I was unaware of reg D myself. I was told over the phone by a Associated Bank employee these fees cant't be removed and they would just assume I close all my accounts before they would refund me the money. They charged me $12 or each transfer over 6. I've been a loyal costumer for 5 years with absolutely no problems. It's hard to believe Associated bank would give up thousands of dollars to save a few. I might find the same service at my new bank, but at least I'll know of the policy. I feel as a long time loyal costumer a one time warning was in order.

  • Su
      19th of May, 2015
    0 Votes

    As a user, you are not FDIC insured; your institution is! Therefore, you're not required to comply with the regulation; your institution is! Regulation D makes no exceptions for additional transfers beyond the six; your institution has no authority to grant you those additional electronic transfers! It's not your fault they haven't updated their bank software to be fully compliant with the rule. The regulation has no fee schedule, the fees do not get forwarded to the FDIC or the Fed or anyone else; your institution keeps them for itself!

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